14 minutes agoTensions at Hormuz, food products prices rise
Periskopi(2 months ago)
(2 months ago)World food prices rose for the third consecutive month in April, driven mainly by higher vegetable oil prices and increased grain and rice quotas due to high energy costs, the UN Food and Agriculture Organisation (FAO) said on Friday.
Global prices of food goods rose in April for the third consecutive month, due to high energy costs and disruptions caused by the conflict in the Near East”, the agency said in a statement, Kosovapress writes. Periscope.
The FAO Food Awards Index averaged 130.7 points in April, 1.6% more than the revised March rate and 2% higher than the previous year. The FAO Oil Awards Index increased by 5.9% from March to its highest level since July 2022, supported by higher prices of palm oil, soybeans, sunflowers and rapsies.
FAO's chief economist, Maximo Torro, said the global agri food systems continued to show stability despite disruptions associated with the Hormuz Strait crisis, while biofuel oils faced stronger price increases mainly due to higher oil prices and stronger demand for biofuels.
The FAO Power Prices Index rose by 0.8% month-on-month, reflecting the highest prices of wheat and corn, while the All Oriz Awards Index rose by 1.9%, while its crude oil prices and derivatives increased production and marketing costs in export countries of rice.
The FAO Meat Award Index reached a new record in April, increasing by 1.2% from March and 6.4% year-on-year, led by higher beef prices.
By contrast, the Milk Product Awards Index fell 1.1% from March, while the Sugar Price Index fell by 4.7%, driven by expectations for abundant global supplies, AA writes.
FAO also increased its forecast for global grain production for 2025 to 3.04 billion tonnes, 6% more than a year ago, while reviewing its forecast for wheat production for 2026 slightly lower to 817 million tonnes. /Periscope
