World food prices mostly steady in October – FAO
The benchmark for world food commodity prices was broadly stable in October, with rising cereal prices more than offset by declines in quotations for other staples, the Food and Agriculture Organization of the United Nations (FAO) reported.
The FAO Food Price Index, which tracks monthly changes in the international prices of a basket of commonly traded food commodities, averaged 135.9 points during the month of October, negligibly below its level in September. With the latest update, the index stood 14.9% down from its all-time high recorded in March 2022, while it remained 2.0% above its level in October 2021.
The FAO Dairy Price Index dropped by 1.7%, with the prices of all dairy products covered down since September. Lower than anticipated purchases by China, lacklustre import demand and the weakening of the Euro against the United States dollar underpinned the drop in October.
The FAO Meat Price Index was down 1.4% in October compared to September, with international ovine, pig, bovine and poultry meat prices all declining on broadly subdued global import demand and increasing exportable supplies.
Read also
The Counterparty Is Trying to Avoid Fulfilling the Contract. What Should You Do?
Russia’s lurking grain industry crisis
China extends Canadian canola probe until March 2026
US agricultural sales to increase by $8 bln following agreement with Japan
China’s soybean stocks hit record high amid trade war with US
Got additional questions?
We will be happy to assist!
Write to us
Our manager will contact you soon