FAO: World Food Price Index rises for the 10th consecutive month

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　　The FAO World Food Price Index in March averaged 118.
5 points, which was higher than the revised index of 116.
1 points in February (previously estimated at 116 points).

 

　　FAO also stated that global food production in 2020 will hit a record high, and early signs indicate that production will increase further this year.

 

　　In terms of sub-indices, the cereal price index in March fell 1.
7% from February, ending the eight consecutive months of rising smuggling, but it was still 26.
5% higher than in March last year.

 

　　In terms of major grain price trends, wheat saw the most decline, down 2.
4% from February, as global supplies are abundant and the outlook for 2021 production is encouraging.

 

　　The vegetable oil price index surged by 8.
0% in March compared to February, the highest point since June 2011, due to rising prices of palm oil, soybean oil, rapeseed oil and sunflower oil.

 

　　The price of dairy products rose for the 10th consecutive month in March, up 3.
9% from February, mainly due to the increase in the price of milk powder.
Fearing short-term supply shortages, imports from Asia, especially China, have surged.

 

　　The meat product price index rose by 2.
3% month-on-month in March, but unlike other foods, the meat price index was lower than the same period last year.
Poultry and pork prices have risen because of the rapid pace of imports from Asian countries, mainly China.

 

　　The sugar price index in March fell by 4.
0% from February, but it rose by 30% year-on-year.
India’s huge export prospects have led to downward pressure on sugar prices in March.