News FAO food index
Grain and vegetable oil push up FAO index
The FAO food price index is able to maintain the positive flow of recent months. The average number of points has also increased this month. The increase is due to higher prices of vegetable oils and grains.
The indicator for global food prices rose by 2 points to 97,9 points in September. The index is thus 2,1% higher than in August and even 5% higher than in September 2019. The number of points increased for the fourth consecutive month and reached the highest level since February this year.
Grain and vegetable oils provide an increase
The grain price index rose by 5 points to 104 points in September. This means that the number of points is 5,1% above the level of August and no less than 13,6% above the level of September 2019. The price increase is mainly due to higher wheat and maize prices. The vegetable oil index also rose in September. The number of points increased by 5,9 points to 104,6. This means the index has reached its highest level in 8 months. The increase is mainly due to higher prices for palm oil, sunflower seed and soybean oil.
Dairy stable
The dairy index remained fairly stable in September, with points totaling 102,2. The index is 2,5% above the level of the same period last year. The prices of butter, cheese and skimmed milk powder have risen in price. This price increase was only compensated by a fall in the price of whole milk powder. The average dairy index has therefore remained virtually stable in September.
Declining trend for meat and sugar index
The meat index averaged 91,6 points in September, compared to the previous month, this is a decrease of 0,9%. This continues the downward trend that has been going on for months. When the index is compared with the level of September 2019, the index is respectively 9,4% lower. The drop in September comes from the price drop in September, as a result of the African swine fever (ASF) in Germany.
The sugar index came in at 79 points in September. The index is 2,6% lower than in August. The decrease is mainly due to a worldwide expected production surplus for the new season. Indian production is likely to recover significantly and Brazil is also expected to recover.
Chanti Oussoren
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