News FAO food index
FAO food index rises for third month in a row
The FAO food price index has continued its upward trend and will rise again in August. The increase this time comes from higher indices of sugar, grain and vegetable oils.
It's the third month in a row that the indicator for global food prices is rising. In August, the average number of points increased by 2% to 96,1 points. The level is therefore 2,1 points higher than in the same month last year.
The sugar index has achieved the largest percentage increase. The index increased by 6,7% to 81,1 points, making the index 6,4% higher than in August last year. The increase was driven by lower supply due to adverse weather conditions in Europe and Thailand, with strong Chinese demand for sugar supporting higher prices.
Grain and vegetable oils up
The index for vegetable oils is also higher. With an increase of 5,9%, the index scores 98,7 points. The increase is largely due to expected cuts in palm oil production and robust global import demand.
The grain price index also amounted to 98,7 points, but rose less sharply in comparison, namely by 1,9%. The index is still 7% above last year's level. Of the main grains, the prices of sorghum, barley, maize and rice rose the most.
Dairy and meat stable
The dairy and meat index contradict the upward trend, but have not fallen. The indices have remained virtually unchanged from the previous month's level. This means that the dairy index remains at 102 points and the meat index also stands unchanged at 93,2 points.
The lower milk supply in connection with the hot period in August, among other things, did not increase the dairy index. The dairy index is still above last year's level, namely 1,7% higher. The same cannot be said for the meat index, which is no less than 8,9% lower.
Chanti Oussoren
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