World Video | Defence | Foreign Affairs | Natural Events | Trade | NZ in World News | NZ National News Video | NZ Regional News | Search

 


UN Food Price Index: Sharp Drop In Prices During May

UN Food Price Index Registers Sharp Drop In Prices During May

New York, Jun 7 2012 4:10PM

The United Nations today reported a sharp drop in global food prices during May owing to generally favourable supplies, growing global economic uncertainties and a strengthening of the United States dollar.

The monthly food price index of the Food and Agriculture Organization (FAO) averaged 204 points in May, down 9 points from April, the agency said in a news release. This was the lowest level since September 2011.

The index measures the monthly change in international prices of a basket of food commodities, including meat, dairy, sugar, and cereals.

“Crop prices have come down sharply from their peak level but they remain still high and vulnerable due to risks related to weather conditions in the critical growing months ahead,” said Abdolreza Abbassian, a senior grains economist with FAO, in a news release.

The agency raised the forecast for world cereal production by 48.5 million tonnes since May, with the bulk of the increase expected to come mainly from maize in the US amid an early start of the planting season and prevailing favourable growing conditions.

FAO’s latest forecast for world cereal production in 2012 stands at a record level of 2,419 million tonnes, 3.2 per cent up from the 2011 record.

“However, with planting still to be completed and much of the crop at very early stages of development, the final outcome will depend greatly on weather conditions in the coming months,” the agency stated.

Global rice production in 2012 is expected to increase by 2.2 per cent from 2011, to some 490 million tonnes, mostly reflecting larger plantings in Asia. At the same time, the latest indications point to a decrease of about 3 per cent in the production of wheat this year, to 680 million tonnes.

FAO noted that this is still well above the average of the past five years.

ENDS

© Scoop Media

 
 
 
 
 
World Headlines

 


Ebola Cases No Longer Rising In Guinea And Liberia

In Conakry, Guinea, a mobilizer teaches children about proper handwashing techniques, which help prevent the spread of diseases, including Ebola. Photo: UNICEF/Timothy La Rose More>>

ALSO:

UN: Alleged Mass Rape In North Darfur

UNAMID commanders from Rwanda and Ethiopia exhange duties in Tabit, North Darfur, to escort a convoy of World Food Programme (WFP) trucks travelling from El Fasher to Shangil Tobaya. Photo: UNAMID/Albert González Farran More>>

Illegal Fishermen Encroach On World’s Most Isolated Tribe

Due to their isolation the Sentinelese of India's Andaman Islands are the most vulnerable society on the planet. They face increasing threats from illegal fishermen who are targeting their waters. More>>

World War: Nearly 1,000 Dead Amid Shaky Ukraine Ceasefire

In latest report, UN rights office says nearly 1,000 dead amid shaky Ukraine ceasefire More>>

ALSO:


Palestinian Activists Cross Apartheid Wall

Friday morning around 50 Palestinian and international activists used makeshift bridges to cross the Apartheid wall between Qalandiya and Northern Jerusalem. This non-violent direct action was in response to the restrictions Israel had placed on Palestinian ... More>>

Police And Crime: FBI Warns Ferguson Decision ‘Will Likely’ Lead To Violence

As the nation waits to hear whether a Missouri police officer will face charges for killing unarmed teenager Michael Brown in Ferguson , Mo., the FBI is warning law enforcement agencies across the country that the decision “will likely” lead ... More>>

UK Local Council Boycotts Israeli Squatter Products

A British local council has voted to boycott products made in Jewish squatter colonies in the Israeli-occupied Palestinian West Bank, one of the first such moves by an elected body in the UK. More>>

Massive Illegal Forest Clearance Threatens Uncontacted Tribe

Brazilian rancher Marcelo Bastos Ferraz has rejected the Ayoreo's plea to stop destroying the forest inhabited by their uncontacted relatives . © OPIT More>>


Get More From Scoop

 
 
 
 
 
World
Search Scoop  
 
 
Powered by Vodafone
NZ independent news