Global food price rises in January — FAO


Benjamin Umuteme, Blueprint (Nigeria) 

February 7, 2019


Global food prices began the year on a buoyant note, as the FAO Food

Price Index averaged 164.8 points in January 2019, up 1.8 percent from

December 2018.


In its Food Price Index report for Januay 2019, released on Thursday,

the UN Agency noted that a sharp rebound in dairy price quotations and

firmer prices of palm and soy oils drove the increase.


The Food Price Index, an indicator of the monthly changes in

international prices of a basket of food commodities, was still 2.2

percent below its January 2018 level.


The FAO Cereal Price Index averaged 168.1 points in January, up

marginally from December. Prices of the major grains were generally

firm amid tightening export supplies and robust world demand...


... The FAO Meat Price Index was almost unchanged from December. The

January value was calculated assuming stable meat prices in the United

States of America, where official data were not available due to the

government shutdown. Elsewhere, international price quotations for

bovine, pig and poultry meat remained steady, while ovine meat prices

declined in step with ample exportable supplies in Oceania.


Meanwhile, in its latest Cereal Supply and Demand Brief, also

published Thursday, FAO lifted the world’s 2018 cereal production

estimate to 2 611 million tonnes...