Planet meals price tag index rises for seventh month functioning in Dec -FAO

ROME (Reuters) – World meals costs rose for a seventh consecutive thirty day period in December, with all the big categories, barring sugar, publishing gains final month, the United Nations food agency said on Thursday.

FILE Image: Wheat is seen all through sunset in a subject of the Solgonskoye farming corporation in the village of Solgon, Russia, in this September 6, 2014 REUTERS/Ilya Naymushin

The Meals and Agriculture Organization’s meals price tag index, which steps regular variations for a basket of cereals, oilseeds, dairy items, meat and sugar, averaged 107.5 points final month vs . 105.2 in November.

The November figure was previously offered as 105..

For the whole of 2020, the benchmark index averaged 97.9 factors, a 3-year significant and a 3.1% enhance from 2019. It was however down extra than 25% from its historical peak in 2011.

Vegetable oil costs ongoing the latest powerful gains, jumping 4.7% month-on-thirty day period in December soon after surging much more than 14.% in November. For the whole of 2020, the index was up 19.1% on 2019.

FAO claimed supply tightness in important palm oil manufacturing international locations experienced pushed price ranges up, even though trade was also impacted by a sharp hike in export responsibilities in Indonesia. Costs for soy oil rose partly since of extended strikes in Argentina. [POI/]

The cereal selling price index posted a far more modest 1.1% increase in December from the month prior to. For all of 2020 the index averaged 6.6% higher than 2019 degrees.

Export charges for wheat, maize, sorghum and rice all rose in December, moving increased in part thanks to fears more than developing ailments and crop prospective customers in North and South The usa as nicely as Russia, the Rome-dependent FAO claimed.

The dairy index climbed 3.2% on the month, nevertheless, in excess of the entire of 2020, it averaged some 1.% fewer than in 2019.

In December, all parts of the index rose because of to robust global import desire brought on by concerns over drier and hotter circumstances on Oceania’s milk output as nicely as high internal need in Western Europe.

The meat index pushed up 1.7% past month, whilst its entire-calendar year ordinary was 4.5% down below that of 2019. FAO stated poultry quotations rebounded in December, partly due to the effect of avian influenza outbreaks in Europe. However, pig meat selling prices fell a bit, strike by the suspension of German exports to Asian markets adhering to African Swine Fever outbreaks.

Bucking the rises in other indices, common sugar prices dipped by .6% in December. For 2020 as a full, the sub-index posted a most 1.1% acquire on 2019 ranges. FAO reported the relative firmness of most up-to-date data mirrored a surge in imports by China and enhanced need for refined sugar from Indonesia. [SOF/L]

FAO did not issue an current forecast for all over the world cereal harvests in January. Its subsequent estimate is because of in February.

Very last month, FAO revised down its forecast for the 2020 cereal year for a 3rd thirty day period jogging, slicing it to 2.742 billion tonnes from a preceding 2.75 billion tonnes.

Reporting by Crispian Balmer

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