The index of world prices FAO grain continues to fall, while for vegetable oils is growing

2020-07-03 12:25:55
Machine translation
The index of world prices FAO grain continues to fall, while for vegetable oils is growing

In June 2020 the average value of the Index FAO food price for the first time since the beginning of the year increased 93.2 p, 2.2 p. higher than the figure of may. Amid the pandemic Covid-19 market instability of prices for vegetable oils, sugar and dairy products following the may devaluation rose to its high of recent months, while prices for grain and meat continued to fall.


the FAO food price Index grain in June fell in comparison with may on 0,6% to 96,9 p, which is 1.9% lower than the level of may, 2019 the beginning of the harvest and improved prospects for the harvest in the major exporting countries puts pressure on wheat prices. The slowdown in trade and currency devaluation in some producing countries has led to the first of this year's decline in world rice prices. Weak demand and forecasts of a good harvest lowered the price of barley. However, corn prices fall after months increased slightly amid increased demand and adverse growing weather conditions in the United States.


the FAO food price Index for vegetable oils after 4-month drop rose 8.8 points, or 11.3 per cent to 86.6 p., palm oil Prices rose amid increased import demand caused by the weakening of quarantine restrictions in most countries, and a possible reduction in production due to the labor shortage. Soybean and sunflower oil has risen in price from-for reductions of export reserves in major countries-producers, and rapeseed oil – through increased demand from the biodiesel sector in the EU.


the FAO food price Index for dairy products has increased compared to may by 3.8 p or 4% to 98.2 p that is still 4.6% below the corresponding indicator 2019 Prices on all types of dairy products began to rise on increased demand in spot markets, primarily in the Middle East and East Asia, as well as a seasonal reduction proposals to the EU and volume of nezamorachivayas offers in Oceania however dekorativnogo level has not yet reached.


the FAO food price Index for meat compared with may decreased by 0.6% to 95,2 p., which is 6.1 points, or 6% lower than in June 2019 World prices of beef and poultry fell due to the increase of export offers the main countries-manufacturers that exceed import demand from China and the Middle East. At the same time prices for pork rose against the backdrop of reviving demand in the EU after the abolition of quarantine restrictions. Increased prices for lamb: as a result of high import demand, and through the reduction of sentences in Oceania.


the FAO food price Index sugar has increased compared to may by 7.2 points, or 10.6 percent to 75 p. Due to the increase in oil prices, Brazil has increased its production of bioethanol from sugar cane, which reduced the sugar production and export proposals. Logistical problems in Brazilian ports also contributed to higher prices.