"FAO ": The global food price index rose slightly during April
Geneva, May 3 / WAM / The Food and Agriculture Organization (FAO) announced that the global commodity price index rose last April, as the rise in meat prices and a modest rise in vegetable oils and grains offset the decline in the prices of sugar and dairy products.
The organization stated in its report today, in which it monitored the latest developments in global food commodity prices during the past month, that the average index, which tracks monthly changes in international prices for a group of globally traded food commodities, reached 119.1 points in April, an increase of 0.3% from its revised level in March, while it decreased. By 9.6% from its level a year ago.
It said that its grain price index rose by 0.3% compared to March, ending a three-month decline, while the report indicated that global wheat export prices stabilized during last April.
The organization indicated an increase in corn export prices due to increased demand amid increasing logistical disruptions, while the Food and Agriculture Organization’s all-rice index fell by 1.8%.
The report also indicated a 3% increase in the prices of vegetable oils, compared to March, reaching its highest level in 13 months. The meat price index also rose by 1.6% in April compared to the previous month, with an increase in global prices for poultry, cattle and sheep meat.
The report pointed out that the FAO Sugar Price Index decreased by 4.4% since March, reaching 14.7% below its level in April 2023.
The organization also issued a new summary of supply and demand for grains, in which it slightly raised its forecast for total global grain production in 2023 to 2,846 million tons, an increase of 1.2% over the previous year. It also increased forecasts for the use of grains in the world to 2,829 million tons.
She said that the global use of corn is now expected to rise by 1.6% during the current year, while the use of wheat will rise by 1.9%, while the use of rice will decrease slightly.
While the report expected that global grain stocks in the 2024 seasons would end at 890 million tons, an increase of 2.1% from the beginning of the year, which indicates that the ratio of grain stocks to use around the world is 30.9%.
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