World food prices rose over the year by 3%

2019-10-04 12:07:51
World food prices rose over the year by 3%

In September, the food price index of FAO increased in comparison with September 2018 3.3% to 170 p., while compared to August 2019, prices have not changed.

 

a Significant drop in sugar prices was offset by higher prices of vegetable oils and meat, while dairy prices fell slightly.

 

the Index of grain prices rose in September 157,6 p. that almost corresponds to the level of August, but by 3.9%, or 6.4 p. lower than in September 2018

 

Dynamics of prices of staple crops have been diversified. Wheat prices in September rose thanks to strong demand, but remained 11% lower than in September 2018. Corn prices fell compared with August, under pressure from the international proposals.

 

the food price Index of the FAO shows how a month has changed the world prices for basic food commodities: cereals, dairy and meat products, sugar, vegetable oil. It is calculated on the basis of average indices of five commodity groups, determined according to the average share of each group in the export.

 

According to the national Bank of Ukraine, in September 2019, the situation on world markets for domestic exporters has deteriorated. Falling demand led to lower prices for goods, including steel and grain, which are the main positions of domestic export. According to the forecast, the NBU, the further slowdown in world trade will restrain Ukrainian exports, and the pricing environment for Russian exporters will remain at the current level.

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