2023-11-03 17:16:00
The trend continues. Global food prices overall continued to decline for the third consecutive month in October. Prices of rice, wheat, sugar and pork are all falling, the Food and Agriculture Organization of the United Nations (FAO) reported on Friday.
Agri-food systems: hidden costs exceed 10% of global GDP
Its FAO food price index, which reflects the variation in international prices of a basket of basic products, fell by 0.5% compared to September for a total decline of 10.9% year-on-year. . The cereal price index thus fell by 1%.
Decline in wheat and cereals
It was driven downward by wheat prices (-1.9%), more abundant than expected in the United States, and by rice prices (-2%), with demand for imports showing ” generally sluggish in October » while rice reached its highest level in 15 years in August, with an increase of almost 10% over one month following the restrictions imposed by India on its exports.
The vegetable oil price index weakened by 0.7%, palm oil prices also fell particularly at a time when production reached a seasonal peak in the main supplier countries. As for meat, the index fell by 0.6%, mainly due to the decline in pork prices.
Sugar decline
The prices of poultry meat have risen slightly, “ as avian flu outbreaks continued to weigh on supply from several major global suppliers, amid strong consumer demand », fond of this product which is more economical than other meats, underlines the FAO.
The sugar price index, which also reached its highest level in 13 years in September due to concerns regarding the impact of El Niño on harvests in Thailand and India, fell by 2 .2%.
Food prices: Senate approves advancement of trade negotiations in January
Finally, the dairy product price index increased in October (+2.2%), following nine months of consecutive declines, with milk powder benefiting from strong demand, particularly in Northeast Asia. This index nevertheless remains 20.1% lower than its October 2022 level.
Palestinian Territories need food aid: FAO
The Food and Agriculture Organization of the United Nations (FAO) on Friday added the Palestinian Territories to the list of countries and territories in need of external food aid.
« In Palestine, according to the 2023 Humanitarian Needs Overview, 1.5 million people (28% of the population) were estimated to be acutely food insecure and in need of immediate assistance between May and July 2022 (collection period). data, Editor’s note): 1.2 million people in the Gaza Strip and 353,000 people in the West Bank », Declares the agency.
« The escalation of conflict in October 2023 is likely to increase the need for humanitarian aid and emergency assistance, while access to affected areas remains a concern », Adds the FAO in its report on Harvest Prospects and Food Situation published three times a year. In total, 46 countries and territories require external food aid according to the FAO.
1699034731
#Food #prices #continued #fall #October #FAO
