FAO’s world Food Price Index, adjusted for inflation, fell 0.6 percent in February and was down 9.7 percent YOY; this marks the 11th straight month of falling prices in FAO’s reporting.

The cereal index fell for a fourth straight month in February. Wheat strengthened slightly as concerns over North American winter wheat were balanced with strong Australian stocks and competition from multiple export origins. Corn, too, was up slightly. Sorghum, barley, and rice prices were also down.

Vegetable oils prices fell for a third straight month. Softened demand has weighed on palm and soybean prices, and strong stocks have also pressured sunflower and rapeseed pricing.

For the meat index, pork prices were up, beef prices were flat, and poultry prices—despite the spread of avian influenza—were pressured by weaker demand and robust world supply. Butter and milk powder prices weighed on the dairy index, which has fallen in all but one of the last eight months.

The sugar price index rebounded in February and has been up in three of the last six months.

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Source: 123rf.com
Posted by: Information Services
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