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As of this year Oct, global foods prices up firsly within 5 months
08.11.2019 20:13 "Agro Perspectiva" (Kyiv) —
As of this year Oct, the global market foods’ prices have grown firstly within last 5 months, due to global sugar and main grains’ quatations have significamtly boosted, the latest FAO Food Price Index says.
As of this year Oct, the FAO Food Price Index averaged 172.7 points, up 1.7% against this year Sept and up 6% against last year Oct.
In meanwhile, the FAO Grains Price Index has risen 4.2% against this year Sept (due to the global wheat and maize export prices have boosted sharply following the wheat/maize crop forecast decline within the main producing countries and due to the global wheat/maizeactive trade). However, despite of that, the global rise prices have fallen due to demand slackening and world basmati rice crop expected to be high.
Besides, the FAO Sugar Price Index has grown 5.8% as of this year Sept due to the expectations for global sugar offer decline mainly owing to India and Tailand (global biggest sugar producer/exporter) sugar output expected reduction.
Also, the FAO Vegetable Oil Price Index boosted 0.5% against this year Sept (thus having reached its highest level within over a year). Palm oil quotations have strengthened due to the expectancy for the within the main producing countries to decline the paln oil output and owing to the Indoonesia having decided to boost the content of vegetable oils within its biodiesel fuel since next year; however, at same time, the global sunoil quotations have declined due to the Black Sea region countries’ sunseeds’ high crop.
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