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

 


Food Prices Fall For First Time in Three Months -- UN Agency

Food Prices Fall For First Time in Three Months -- UN Agency

New York, Feb 6 2014 - Global food prices declined for the first time in three months as lower prices for cereals, sugars, oils and meat outstripped gains in dairy values, the United Nations Food and Agriculture Organization (FAO) reported today.

The Rome-based agency said its Food Price Index averaged 203.4 points in January, which is 1.3 per cent below December and 4.4 per cent below January 2013.

The Index measures monthly changes in international prices of a basket of meat, dairy, cereals, oils and fats, and sugar.

"We're seeing lower prices due to abundant supplies, but stronger upturn in demand, such as an increase in the pace of imports from Asia, could limit the decline," said FAO economist Abdolreza Abbassian.

Sugar and vegetable oils fell 5.6 per cent and 3.8 per cent respectively. Bumper cereal crops, meanwhile, helped to bring down cereal prices, which were 1.6 per cent lower than in December and as much as 23 per cent lower than in January 2013.

Even meat prices, which had strengthened over the past few months, fell slightly in January.

"The only notable exception was a rise in dairy prices," said Michael Griffin, FAO's dairy and livestock market expert.

The FAO dairy price index registered a 1.3 per cent increase in January to 267.7 points, largely reflecting strong demand, especially from China, North Africa, the Middle East and Russia.

Overall world cereal production for 2013 was stronger than anticipated, to a record 2,502 million tonnes, up 8.5 per cent from 2012.

"The bumper cereal crop in 2013 would help in replenishing world reserves," FAO said in its news release.

The UN agency estimates the harvest could reach 573 million tonnes, 13.5 per cent higher than in the previous season. At this level, the stocks-to-use ratio for global cereals would top 23.5 per cent in 2013/14, its highest value since 2002/03 and well above its historical low of 18.4 per cent registered in 2007/08.

Based on the latest information, early prospects for the 2014 harvest looks good, FAO predicted. This view is shared by a separate report published today by the Agricultural Market Information System (AMIS) a G20 initiative which is housed at FAO and managed by ten international organizations.

For more details go to UN News Centre at http://www.un.org/news

ENDS

© Scoop Media

 
 
 
 
 
World Headlines

 


21 Egyptians Beheaded

Egyptian jets bombed Islamic State targets in Libya on Monday, a day after the group there released a video showing the beheading of 21 Egyptian Christians, drawing Cairo directly into the conflict across its border. More>>

Protests In Bil’in Honoring Slain US Citizens

Protesters at demonstration in Bil’in honoring slain US citizens face attacks and arrests by Israeli forces. More>>

Resolution Targeting Sources Of Financing For ISIL

Ambassadors representing two countries under attack from ISIL, Bashar Ja’afari (right) of Syria, and Mohamed Ali Alhakim of Iraq, speak to journalists following the adoption of a Security Council resolution targeting sources of financing for ... More>>

ALSO:

  • U.S. Department of State - Support for Authorization for Use of Military Force
  • "Pakistan Probably Harboured Osama Bin Laden"

    Former ISI head Lt. Gen. Asad Durrani tells Al Jazeera Pakistan probably harboured Osama Bin Laden More>>

    "Pakistan Probably Harboured Osama Bin Laden"

    Former ISI head Lt. Gen. Asad Durrani tells Al Jazeera Pakistan probably harboured Osama Bin Laden More>>

    ISM Honours Kayla Mueller

    Abdullah Abu Rahma, coordinator of the popular committee in the village of Bil’in where Kayla joined the protests, told ISM: “Kayla came to Palestine to stand in solidarity with us. She marched with us and faced the military that occupies our ... More>>


    US Measles Outbreak: UN Urges Parents Vaccinate Children

    3 February 2015 – Parents in the United States must vaccinate their children against measles in order to maintain the high levels of immunity necessary in keeping outbreaks of the aggressively contagious virus small and contained, the United Nations World ... More>>

    Ebola: Large-Scale Vaccine Trials Under Way In Liberia

    WHO welcomed the donation by the Public Health Agency of Canada of 800 vials of one of the leading candidate Ebola vaccines, rVSV-ZEBOV. Photo: WHO/M. Missioneiro (file) More>>

    Security Council Denounce Murder Of Jordanian Pilot

    3 February 2015 – For the second time in as many days, Secretary-General Ban Ki-moon and the United Nations Security Council have jointly condemned the brutal killing of a civilian by the Islamic State of Iraq and the Levant (ISIL) – this time deploring ... More>>

    Get More From Scoop

     
     
     
     
     
    World
    Search Scoop  
     
     
    Powered by Vodafone
    NZ independent news