Economy 13:58 14/06/2019 World

Global food prices rise in May

Global food prices rose for the fifth consecutive month in May, pushed up by rising prices of cheese and maize due to adverse weather conditions, the Food and Agriculture Organization of the United Nations (FAO) reported.

The FAO Food Price Index, which tracks monthly changes in the international prices of commonly traded food commodities, averaged 172.4 points in May, up 1.2 percent from the previous month while still 1.9 percent below its level in May 2018.

The FAO Dairy Price Index rose 5.2 percent from April, nearing a five-year high. The upswing, centered on cheese prices, reflected robust global import demand amid tight export availabilities from drought-ridden Oceania.

The FAO Cereal Price Index rose 1.4 percent, entirely driven by a sudden surge in maize price quotations in response to diminishing production prospects in the United States of America, where planting of the crop is off to the slowest pace ever recorded due to widespread flooding and rain. Wheat prices generally dipped, while those of rice held broadly steady.

The FAO Sugar Price Index declined 3.2 percent for the month, as prospects of increased output in India, the world's largest producer, outweighed a reported 17 percent annual drop in production in Brazil. Weaker international energy prices, which reduce demand for sugarcane to produce biofuels, also negatively affected sugar prices.

The FAO Vegetable Oil Price Index declined 1.1 percent as palm oil values declined on account of large inventory levels in leading exporting countries. Prices of soy, sunflower ad rapeseed oils increased modestly.

The FAO Meat Price Index was up marginally in May as pig meat price quotations continued to rise amid strong import demand from East Asia, where the African Swine Fever has decimated production. Bovine meat prices eased from their April highs, reflecting elevated global export supplies.

FAO has also published its latest forecast for world cereal production in 2019 which is available in the Cereal Supply and Demand Brief.



Source Panorama.am
Share |
Տեքստում սխալ կամ վրիպակ նկատելու դեպքում, ուղարկեք խմբագրին հաղորդագրություն` նշելով տվյալ սխալը, այնուհետև սեղմելով Ctrl-Enter:

Newsfeed

20:00
Weather update: Air temperature to not change essentially
Short-term rain with thunderstorm is predicted at night and in the afternoon of June 16-20 in most regions, Hydromet meteorological service...
19:31
Italian film director Franco Zeffirelli dies at 96
Italian film director Franco Zeffirelli has died aged 96, BBC reported.  The Florence native directed stars including Elizabeth Taylor in...
19:06
Defense minister visited frontline positions
Defense minister of Armenia Davit Tonoyan visited on Saturday one of the frontline positions of the RA Armed Forces. As the press department at...
18:49
Turkey unable to deny the fact of the Armenian Genocide, no matter Ottoman archives are open or closed
“Statements about opening the Ottoman archives are not new. For years, especially since 1987-88 Turkey has constantly been stating about...
18:00
Bradley Cooper in talks to replace Leonardo DiCaprio in 'Nightmare Alley'
Bradley Cooper  has the offer to play the male lead in the Guillermo Del Toro-directed remake, a role that was previously earmarked for...
17:25
Artsakh President visited Askeran and Martakert regions
Artsakh Republic President Bako Sahakyan visited  on Saturday the regions of Askeran and Martakert and inspected the realization of a range...
17:00
Criminal case instituted over fire shot at Lusahovit community head
Criminal case has been instituted in the Tavush regional investigative department over fire shot at Lusahovit community head, Investigative...
16:31
Venezuela crisis: Migrants dash to cross Peru border
Thousands of Venezuelans have rushed to cross into Peru in a bid to beat the introduction of tougher migration laws. From midnight local...
15:00
Big donors haven't given money pledged to Notre Dame restoration: report
Several big-money French donors haven’t contributed the hundreds of millions of dollars they pledged to give to help restore the Notre...
14:53
Artsakh reports around 140 Azerbaijani ceasefire violations over past week
The Azerbaijani armed forces violated the ceasefire along the Artsakh-Azerbaijan Line of Contact around 140 times in the past week. In the...
14:23
Michael Douglas says Steven Spielberg stopped him from receiving Cannes best actor award
Michael Douglas claimed Steven Spielberg stopped him from receiving a best actor award for HBO’s “Behind the Candelabra” at...
14:09
Armenian pianist Hripsime Aghakaryan wins Khachaturian Int'l Competition
Hripsime Aghakaryan, a pianist representing Armenia, became the winner of the 15th Khachaturian International Competition held in Yerevan on...
13:22
Opposition Prosperous Armenia MP steps down
Tigran Urikhanyan, a lawmaker representing the opposition Prosperous Armenia faction of the parliament, has laid down his mandate. In a...
12:50
Trump compares first lady ‘Melania T’ to ‘Jackie O’
U.S. President Donald Trump says his wife, first lady Melania Trump, is an icon on the same order of Jacqueline Kennedy Onassis, AP reported....
12:45
Driver wounded after car crashes into power pole in Armenian capital
A car crashed into a power pole on an avenue in Yerevan, the capital of Armenia, on Friday night, injuring the driver. The crash happened on...
12:05
British court sets Assange extradition hearing for February 2020
The full extradition hearing to decide whether Wikileaks founder Julian Assange should be sent to the United States to face accusations...
11:54
Norway Chess: Armenia’s Aronian shares 2-3 places
Armenian grandmaster Levon Aronian defeated Viswanathan Anand of India in the final ninth round of the 2019 Altibox Norway Chess tournament...
11:20
ANCA calls on Pompeo to lift restrictions on U.S.-Artsakh dialogue
On the eve of next week’s meeting in Washington, DC of Armenian and Azerbaijani foreign ministers regarding Artsakh status and security...
10:58
Mikael Minasyan: The time to come out of trenches
Mikael Minasyan, Armenia's former ambassador to the Holy See of Vatican and the Republic of Malta, has published an article in 168.am....
10:36
Alain Delon hospitalized
83-year-old French actor Alain Delon was taken to a medical facility because of frequent migraine attacks, The Sherbrooke Times reported, citing...
20:31
White House press secretary is leaving the post
White House press secretary Sarah Huckabee Sanders will leave the job at the end of the month, President Donald Trump said Thursday, according...
20:11
I assume this office with a great feeling of honor and sense of responsibility - Zareh Sinanyan
Prime Minister Nikol Pashinyan received on Friday newly appointed High Commissioner for Diaspora Affairs Zareh Sinanyan. As the government...
20:00
Weather update: Air temperature will not change essentially
Short-term rain with thunderstorm is predicted at night and in the afternoon of June 15-19 in most regions, Hydromet meteorological service...
19:42
Armenian football team advances 9 spots in FIFA rankings
FIFA announced on Thursday the new ranking for national teams as of June 2019, with the Armenian national team moved up by 9 positions to hold...
18:56
First Armenian TV station launched in Turkey
Turkey's first Turkish-Armenian television station has hit the airwaves, according to the journalist spearheading the project.   ...
18:30
The fifth member of SJC resigns
The fifth member of the Supreme Judicial Council (SJC), Armen Bektashyan has submitted resignation, the press service of the council reported....
18:23
Mexican filmmaker Carlos Reygadas - special guest of Golden Apricot Film Festival
Mexican celebrity filmmaker, winner of international competitions Carlos Reygadas will be the special guest of the Golden Apricot 16th...
17:16
State commission on the prisoners of war, hostages and missing persons held regular meeting
Another meeting of the prisoners of war, hostages and missing persons commission of the Republic of Armenia took place on Friday, the ministry...
16:16
Yerevan appellate court rejects Kocharyan’s motion to recuse judge
The Yerevan Court of Appeals, presided over by judge Armen Danielyan, rejected the motion of second President Robert Kocharyan’s legal...
15:39
Another Armenian judicial official steps down
Another member of the Supreme Judicial Council (SJC), Sergey Meghryan has submitted resignation, the press service of the council reported....

Follow us and get updates!

Most popular articles

{"core.blocks.header.spell_message1":"Selected mistake: ","core.blocks.header.spell_message2":"Send a message about the mistake?"}