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FAO Food Price Index rises mostly due to dairy prices growth

07.03.2019 17:26 "Agro Perspectiva" (Kyiv) As of this year Feb, the global food prices have somewhat grown against this year Jan, FAO reports. Thus, as of this year Feb, the FAO Food Price Average Index has boosted to 167.5 points, up 1.7% against this year Jan. As to the report, the Price Index has been partially driven up by the global dairy prices sharp boost. It is to be admitted, the Price Index, which is an indicator of the monthly changes within international prices of a food basket, is currently at its highest level since Aug 2018, but still nearly 2.3% below Feb 2018. It is to be reminded, as of Feb 2018, the FAO Cereal Price Index averaged almost 169 points, up marginally against Jan 2018 mostly due to firmer maize prices. As to the report, as of this year Feb, the FAO Vegetable Oil Price Index has risen to 133.5 points, up 1.8% against this year Jan (marking its highest level since Oct 2018). This year Feb rise is mainly due to global vegetable oils (palm, soy and sunoil) quotations boost. Reportedly, as of this year Feb, the FAO Meat Price Index was up slightly, supported by bovine and pig meat prices slight boost. As to the report, as of this year Feb, the FAO Dairy Price Index has grown by 5.6% against this year Jan, driven by a strong global import demand for SMP, WMP and cheese. Besides, an expected seasonal drop of the global butter output also contributed to the butter prices growth. Reportedly, as of this year Feb, the FAO Sugar Price Index has risen e by 1.2% against this year Jan, mainly due to the experts concerns over the sugar output decline prospects within some of the main producing countries.

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