Sunday, September 20, 2020

You can get e-magazine links on WhatsApp. Click here


Food prices up in December, driven by rally in prices of vegetable oil
Monday, 13 January, 2020, 14 : 00 PM [IST]
World food prices rose for the third consecutive month in December, as a strong rally in vegetable oil prices drove the FAO (Food and Agriculture Organization) Food Price Index to its highest level in five years.

It averaged 181.7 points during the month, a 2.5 per cent increase from November, and the highest level since December 2014.

For 2019 as a whole, the index - which tracks monthly changes in the international prices of commonly-traded food commodities - averaged 171.5 points, some 1.8 per cent higher than in 2018, but still 25 per cent below its peak in 2011.

The FAO Vegetable Oil Price Index rose 9.4 per cent from November, increasing for the sixth consecutive month. The latest upturn was once again driven by palm oil prices, buoyed by both solid demand, especially from the biodiesel sector, and concerns about tightening supplies.

Despite the December increase - which also concerned soy, sunflower and rapeseed oils - the vegetable oil sub-index had over the course of 2019 reached its lowest annual average since 2007.

The FAO Sugar Price Index rose 4.8 per cent from November. The rally was, in part, prompted by rising crude oil prices, which encouraged Brazil's sugar mills to use more sugarcane supplies to produce ethanol, leading to reduced sugar availability in the global market.

The FAO Dairy Price Index increased by 3.3 per cent during the month, led by cheese prices, which rose by almost eight per cent amid tighter export availabilities from the European Union (EU) and Oceania.

The FAO Cereal Price Index rose 1.4 per cent, driven mainly by wheat prices amid accelerating import demand from China and logistical problems in France, due to continued protests in the country. However, maize and rice price quotations remained broadly stable.

The FAO Meat Price Index averaged 191.6 points in December, almost unchanged from its revised November value. The sub-index ended the year 18 per cent higher than in December 2018, driven by pig meat quotations both by solid import demand from Asia and pre-festivity internal demand in the EU and Brazil.
Print Article Back FNB News Twitter
Post Your commentsPost Your Comment
* Name :    
* Email :    
  Website :  
Comments :  
Captcha :

Food and Beverage News ePaper
“Keep in mind a focussed menu, optimum pricing, lean manpower”
Past News...

Packaged wheat flour market growth 19% CAGR; may reach Rs 7500 cr: Ikon
Past News...
Advertise Here
Advertise Here
Advertise Here
Recipe for Success
Bartending ‘interesting accident’, states aspiring mathematician Lal
Past News...

Home | About Us | Contact Us | Feedback | Disclaimer
Copyright © Food And Beverage News. All rights reserved.
Designed & Maintained by Saffron Media Pvt Ltd