FAO Food Price Index edges up, but 7.4% up on year-ago number

The FAO Food Price Index (FFPI) averaged 178.4 points in September 2017, up 1.4 points (0.8 percent) from August and 7.4 points (4.3 percent) above September 2016.

 

Ingredients Network

9 Oct 2017

 

The FAO Food Price Index (FFPI) averaged 178.4 points in September 2017, up 1.4 points (0.8 percent) from August and 7.4 points (4.3 percent) above September 2016. Firmer prices in the vegetable oil and dairy sectors were behind the small month-on-month rise in the value of the FFPI

 

The FAO Cereal Price Index averaged 152.2 points in September, down 1.6 points (1.0 percent) from August. While the Index declined for the second consecutive month, it remained 8 percent above the corresponding month last year. Maize prices fell in September, reacting to ample supplies in South America and harvest pressure in the northern hemisphere. Wheat values were also weaker, with continued upgrading of this years harvest in the Russian Federation a major factor. By contrast, seasonally tight availabilities of fragrant rice and firm demand for higher quality Indica supplies kept international rice prices firm over the month...

 

The FAO Meat Price Index* averaged 173.2 points in September, unchanged from August but up 9.5 points (5.8 percent) compared to the same period last year. In September, a rise in the international prices of ovine meat countered a decline in pig meat quotations, while those of bovine and poultry meat remained largely unchanged. In the case of ovine meat, prices rose, buoyed by strong import demand, especially from the Middle East and South East Asia, coupled with continued overall supply constraints in Oceania. By contrast, pigmeat prices fell slightly, responding to improved supplies from Brazil. Poultry and bovine meat markets remained well supplied, keeping prices stable...

 

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