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

 


World food prices stay high, but steady

2013 third highest year on record for FAO Food Price Index

9 January 2014, Rome - The FAO Food Price Index averaged 206.7 points in December, nearly unchanged from the previous month, with a sharp increase in dairy prices and high meat values balancing out a steep decline in sugar quotations and lower cereal and oil prices.

For 2013 as a whole, the index averaged 209.9 points - down 1.6 percent from 2012, and well below 2011's peak of 230.1, but still the third highest annual value on record (see sidebar).

Large supplies pushed down international prices of cereals (with the exception of rice), oils and sugar. However, dairy values peaked in 2013, and meat also hit a record.

"Last month, the FAO Food Price Index remained elevated as strong demand for certain high-protein foods continued to drive up prices overall, countering falling prices of major food crops after last year's abundant harvests," said FAO economist Abdolreza Abbassian.

FAO's FPI is a trade-weighted index that measures prices of five major food commodities on international markets: cereals, dairy products, meat, sugar, and vegetable oils.

Good harvests nudge cereal and sugar prices down

The FAO Cereal Price Index averaged 191.5 points in December, down 2.8 points from November, and the lowest monthly value since August 2010. Large global supplies, following record harvests in 2013, continued to exert downward pressure on international prices of wheat and maize in particular. By contrast, rice prices were up slightly in December.

For all of 2013, the Cereal Price Index averaged 219.2 points, down as much as 17 points, or 7.2 percent, from 2012.

FAO's Sugar Price Index averaged 234.9 points in December, a sharp slide of 15.8 points from November. This was the third consecutive monthly decline, with the sugarcane harvest in Brazil - the world's largest sugar producer and exporter - exceeding expectations. Adding to the downward pressure on international prices were reports of record production in Thailand, the world's second biggest sugar exporter, as well as good harvests in China.

Overall, in 2013, sugar prices were 18 percent lower than in 2012.

Dairy and meat hit record high

Dairy prices, on the other hand, were up for both December and for 2013 as a whole.

The FAO Dairy Price Index averaged 264.6 points in December, a rise of 13.2 points over November. Demand for milk powder, especially from China, remains strong, and processors in the southern hemisphere are focusing on this product rather than on butter and cheese.

During 2013, the dairy index averaged 243 points - its highest annual value since its inception.

The FAO Meat Price Index averaged 188.1 points in December, just slightly above its November level. Prices for bovine and pig meat moved higher: demand from China and Japan have resulted in beef prices showing consistent growth since last June. Prices for poultry were stable, while those for sheep meat moved lower. Still, in 2013, the index remained historically high, well above pre-2011 levels.

Drop in vegetable oil prices

FAO's Vegetable Oil Price Index averaged 196 points in December, a decrease of 2.5 points from November.

For 2013 as a whole, the index averaged 193 points - well below 2012's average of 224 points - with palm oil falling to a 4-year low.

ENDS

© Scoop Media

 
 
 
 
 
World Headlines

 

MSF: Ebola Crisis Update - 16th October 2014

16 October 2014 Cases Deaths Guinea 1,472 843 Liberia 4,249 2,458 Nigeria 20 8 Sierra Leone 3,252 1,183 Senegal 1 0 Total 8,994 4,492 WHO Figures - Data are based on official information reported by Ministries of Health. These numbers are subject to change ... More>>

ALSO:

Detroit: City-Backed Water Shut-Offs Contrary To Human Rights

20 October 2014 – The city of Detroit must restore access to water for its citizens who remain unable to pay their bills, two United Nations experts urged today, adding that a failure to do so would be a violation of the most basic human rights of those ... More>>

ALSO:

DR Congo: Head Of UN Mission Condemns Deadly Rebel Attacks

A MONUSCO APC is greeted by FARDC soldiers on their way back from the front line in the Beni region of the DRC where the UN is backing the FARDC in an operation against ADF militia. Photo: MONUSCO/Sylvain Liechti More>>

UNESCO Chief Denounces Killing Of Cambodian Journalist

17 October 2014 – The head of the United Nations agency tasked with defending press freedom today denounced the killing of a Cambodian reporter shot while investigating illegal logging in the eastern part of the country. More>>


UN Lauds Role Of Family Farmers In Ending Global Hunger

A farmer at work in a dragon fruit field in Viet Nam (July 2013). Photo: FAO/Hoang Dinh Nam | See more photos More>>


Funding Gap Looms Amid Efforts To Tackle Ebola & ISIS

Funding Gap Looms Amid Efforts to Tackle ‘Twin Plagues’ Ebola, ISIL, Warns UN Rights Chief More>>

ALSO:

  • The White House - Ebola: What You Need to Know

  • Egypt Sentences Another Al Jazeera Journalist

    In another disturbing move against freedom of speech and independent journalism in Egypt, one of Al Jazeera Arabic channel’s presenters, Ahmed Mansour, has been sentenced in absentia to fifteen years imprisonment by Cairo’s criminal court on the absurd ... More>>

    ISIL Advance On Iraqi Town Unleash New Flood Of Displacement

    Syrian Kurds from the town of Kobane seeking shelter in Iraq's Kurdistan region. Photo: UNHCR/D. Nahr More>>

    ALSO:

  • U.S. Department of State - U.S. Condemns ISIL Attacks in Iraq

  • Get More From Scoop

     
     
     
     
     
    World
    Search Scoop  
     
     
    Powered by Vodafone
    NZ independent news