Global food prices overall hold steady in November – World

FAO Food stuff Cost Index is now only .3 % better than a 12 months previously

02/12/2022

Rome – The measure of changes in globe food stuff commodity prices remained largely steady in November, with declining worldwide rates of cereals, meat and dairy goods offsetting growing quotations for vegetable oils and sugar, the Foods and Agriculture Firm of the United Nations (FAO) claimed Friday.
The FAO Food stuff Price tag Index, which tracks regular monthly modifications in the international selling prices of a basket of typically-traded foodstuff commodities, averaged 135.7 factors for the duration of the month of November, a fraction below its stage in October. The Index is now only .3 p.c increased than its level in November 2021.

The FAO Cereal Price tag Index declined by 1.3 per cent from the earlier thirty day period, but it was still up 6.3 per cent from its benefit a yr back. Planet wheat and maize rates declined in November by 2.8 percent and 1.7 p.c, respectively, partly motivated by the extension of the Black Sea Grain Initiative. By contrast, intercontinental rice costs moved up by 2.3 p.c.

The FAO Vegetable Oil Value Index enhanced by 2.3 p.c in November, ending seven consecutive months of decline. International palm and soy oil charges rose, although those of rapeseed and sunflower oils dropped.

The FAO Dairy Cost Index lessened by 1.2 % due to the fact October, with world quotations for butter, skim and complete milk powders falling, amid reduce import demand, when those people for cheese greater, in portion due to a lot less buoyant export availabilities from major generating nations in Western Europe.

The FAO Meat Rate Index was .9 percent reduce in November than the previous thirty day period, as international bovine meat price ranges fell, as amplified export materials from Australia extra to previously-large materials from Brazil, notwithstanding China’s continuing sturdy import need. By contrast, earth rates of all other meat types rebounded, led by higher quotations for ovine meat.

The FAO Sugar Selling price Index rose 5.2 % in November, affected by sturdy getting amid limited international sugar provides due to harvest delays in vital creating international locations and the announcement by India of a decreased sugar export quota. Increased ethanol rates in Brazil also exerted upward stress on earth sugar selling prices.

More information are readily available below. To obtain benchmark export quotations of a variety of foodstuffs and countrywide retail/wholesale rates of foodstuff be sure to check out FAO’s Food stuff Rate Checking and Investigation (FPMA) Instrument

**2022 globe cereal output forecast is lowered
**
In the most current Cereal Offer and Demand Brief, also released now, FAO even more slash its forecast for environment cereal generation in 2022, which now stands at 2 756 million tonnes, a 2. per cent drop from 2021.

The reduction largely reflects reduced maize manufacturing prospective buyers in Ukraine, where by the effect of the war has built write-up-harvesting functions prohibitively pricey. FAO also decreased its world wide wheat generation forecast for the yr, but even with this reduce, the new 781.2 million tonne figure would stay a history substantial. Worldwide rice manufacturing is envisioned to drop by 2.4 per cent underneath the earlier year’s all-time high.

On the lookout ahead, planting of the 2023 wintertime wheat crop is underway amid concerns above the affordability of crucial agricultural inputs and adverse weather problems in the United States of The us and the Russian Federation, while elevated crop costs could support to retain an above-average place globally. In the southern hemisphere, coarse grain crops are becoming sown, and formal forecasts in Brazil issue to a file higher location getting sown to maize.

Additional information and up-to-date forecasts for globally utilization of cereals in the 2022/23 year, for planet cereal shares by the near of seasons in 2023 and for earth trade in cereals are out there below.

45 international locations want external guidance for food
45 international locations all around the globe, such as 33 in Africa, nine in Asia, two in Latin America and the Caribbean and one in Europe, are assessed to be in want of exterior assistance for food stuff thanks to conflicts, serious temperature activities and soaring inflation rates, in accordance to the most recent Crop Prospective clients and Food items Situation report, a quarterly publication by FAO’s World-wide Information and facts and Early Warning System (GIEWS).

Meals insecurity disorders in countries in East Africa and West Africa are of individual concern.

For minimal-income foods-deficit international locations, the 2022 cereal output is forecast at 184.5 million tonnes, on par with the past 5-12 months typical, even though the total cereal import need is forecast at 63.7 million tonnes, up 7 per cent from the final 5-12 months average. Information are offered listed here.