0
Global food commodity prices fell in April amid expectations of ongoing robust supplies of many key staples.
The FAO Food Price Index averaged 168 points in April, down 1.8 percent from March although remaining 10 percent higher than a year earlier.
The Sugar Price Index led the decline, dropping 9.1 percent on the month as large export supplies from Brazil met with continued weak global import demand.
The FAO Vegetable Oil Price Index fell 3.9 percent on the month, pushed down by weakening demand for palm oil and expectations of bumper soy harvests and plantings in South and North America.
FAO's Food Price Index is a trade-weighted index tracking international market prices of five major food commodity groups.
The Cereal Price Index also shed 1.2 percent in April, pushed down by sagging wheat prices even as international rice prices firmed.
The Dairy Price Index fell 3.3 percent as production in the northern hemisphere entered peak season, allying short-term sourcing concern.
The FAO Meat Price Index averaged 166.6 points in April, up 2.8 points (1.7 percent) from March, continuing a trend of modest increases evident since the start of the year. From January to April, the Index rose by almost 5 percent. Quotations for ovine and pig meat firmed, while those of bovine and poultry meat were almost unchanged. Strong domestic demand in the EU, combined with increased sales to China and the Republic of Korea, stimulated pig meat prices. Seasonal demand bolstered ovine quotations, while poultry and bovine meat markets remained well balanced.
Thursday May 4, 2017/ FAO.
http://www.fao.org
