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November 4, 2021, Rome - The United Nations food and Agriculture Organization (FAO) report released on the 4th, world food price index soared to a new peak, reached in July 2011 since the highest level
.
.
The FAO Food Price Index, which tracks the monthly changes in the international prices of a global basket of food commodities, averaged 133.
2 points in October, an increase of 3.
9% from the previous month, achieving the third consecutive month of increase
.
2 points in October, an increase of 3.
9% from the previous month, achieving the third consecutive month of increase
.
The FAO Cereal Price Index increased by 3.
2% month-on-month in October, and world wheat prices rose by 5% due to poor harvests in major exporting countries such as Canada, Russia, and the United States
.
The international prices of other major cereals also showed an upward trend compared with the previous month
.
2% month-on-month in October, and world wheat prices rose by 5% due to poor harvests in major exporting countries such as Canada, Russia, and the United States
.
The international prices of other major cereals also showed an upward trend compared with the previous month
.
In October, the FAO Vegetable Oil Price Index rose by 9.
6%, a record high
.
Higher quotations for palm oil, soybean oil, sunflower oil and rapeseed oil drove this growth
.
Palm oil prices rose for the fourth consecutive month that month, mainly because Malaysia’s current migrant labor shortage has triggered continued concerns about its sluggish production
.
6%, a record high
.
Higher quotations for palm oil, soybean oil, sunflower oil and rapeseed oil drove this growth
.
Palm oil prices rose for the fourth consecutive month that month, mainly because Malaysia’s current migrant labor shortage has triggered continued concerns about its sluggish production
.
The FAO Dairy Price Index rose 2.
6 points from September.
Behind this is global buyers hoarding inventories to ensure supply, resulting in generally strong import demand for butter, skimmed milk powder and whole milk powder
.
In contrast, the supply of major cheese-producing countries is sufficient to meet global import demand, so its prices remain basically stable
.
6 points from September.
Behind this is global buyers hoarding inventories to ensure supply, resulting in generally strong import demand for butter, skimmed milk powder and whole milk powder
.
In contrast, the supply of major cheese-producing countries is sufficient to meet global import demand, so its prices remain basically stable
.
The FAO Meat Price Index fell by 0.
7% from the September revision, the third consecutive month of decline
.
International quotations for pork and beef have declined
.
The former is due to a decrease in China's purchases, and the latter is due to a sharp drop in supply quotations from Brazil .
In contrast, the prospects for global high demand and low production expansion are pushing up prices for poultry and mutton
.
7% from the September revision, the third consecutive month of decline
.
International quotations for pork and beef have declined
.
The former is due to a decrease in China's purchases, and the latter is due to a sharp drop in supply quotations from Brazil .
In contrast, the prospects for global high demand and low production expansion are pushing up prices for poultry and mutton
.
The FAO Sugar Price Index fell 1.
8% month-on-month, showing a downward trend for the first time after rising for six consecutive months
.
The limited global import demand and the prospect of a large export supply from India and Thailand, combined with the weakening of the Brazilian real against the US dollar, triggers lower sugar prices
.
8% month-on-month, showing a downward trend for the first time after rising for six consecutive months
.
The limited global import demand and the prospect of a large export supply from India and Thailand, combined with the weakening of the Brazilian real against the US dollar, triggers lower sugar prices
.
Cereal production will reach a new high in 2021, but stocks are expected to decline
FAO also released the latest issue of "Cereal Supply and Demand Bulletin" today.
Its latest forecast shows that although world cereal production is expected to reach a new high in 2021, global cereal stocks in 2021/22 will decline
.
Its latest forecast shows that although world cereal production is expected to reach a new high in 2021, global cereal stocks in 2021/22 will decline
.
The latest forecast of world cereal production in 2021 is 2.
793 billion tons, and the 6.
7 million tons month-on-month reduction is mainly contributed by the expected reductions in wheat production in Iran, Turkey and the United States
.
In contrast, global coarse grain production forecasts have been revised upwards
.
The increase in world corn production is due to better than previously expected yields in Brazil and India, while the prospects for several countries in West Africa have also improved
.
Global cereal production is expected to be higher than last year, setting a new record
.
793 billion tons, and the 6.
7 million tons month-on-month reduction is mainly contributed by the expected reductions in wheat production in Iran, Turkey and the United States
.
In contrast, global coarse grain production forecasts have been revised upwards
.
The increase in world corn production is due to better than previously expected yields in Brazil and India, while the prospects for several countries in West Africa have also improved
.
Global cereal production is expected to be higher than last year, setting a new record
.
The forecast of total world cereal consumption in 2021/22 is 2.
812 billion tons, an increase of 1.
7% from the estimated level in 2020/21.
Both feed and industrial consumption are expected to rise, which will also contribute to the increase in this year's higher than expected
.
812 billion tons, an increase of 1.
7% from the estimated level in 2020/21.
Both feed and industrial consumption are expected to rise, which will also contribute to the increase in this year's higher than expected
.
The forecast of world cereal stocks at the end of the 2022 season is 0.
8% lower than the beginning level to 819 million tons
.
Therefore, the ratio of world cereal stocks to consumption is expected to decrease slightly from 29.
4% in 2020/21 to 28.
5% in 2021/22, but the overall ratio is still at an appropriate level
.
8% lower than the beginning level to 819 million tons
.
Therefore, the ratio of world cereal stocks to consumption is expected to decrease slightly from 29.
4% in 2020/21 to 28.
5% in 2021/22, but the overall ratio is still at an appropriate level
.
The stronger-than-expected global trade in wheat and rice has triggered an upward adjustment.
The current forecast for the world cereal trade in 2021/22 will increase and reach a new record level of 478 million tons, which is 0.
3% higher than that in 2020/21
.
The current forecast for the world cereal trade in 2021/22 will increase and reach a new record level of 478 million tons, which is 0.
3% higher than that in 2020/21
.
