The measure of modifications in world meals commodity costs was largely flat in November, with falling worldwide costs for grains, meat and dairy merchandise offsetting larger quotations for vegetable oils and sugar, the Meals and Agriculture Group of the United Nations (FAO) reported on Friday.
The FAO Meals Value Index, which tracks month-to-month modifications in worldwide costs for a basket of generally traded meals objects, averaged 135.7 factors through the month of November, a fraction under its stage in October. The index is now simply zero.three % larger than its stage in November 2021.
The FAO Cereal Value Index declined 1.three % from the earlier month, however was nonetheless 6.three % above its worth a yr in the past. World wheat and maize costs fell by 2.eight % and 1.7 % respectively in November, partly influenced by the extension of the Black Sea Grain Initiative. In contrast, worldwide rice costs rose 2.three %.
The FAO Vegetable Oil Value Index rose 2.three % in November, ending seven consecutive months of decline. Worldwide costs of palm and soybean oil elevated, whereas these of rapeseed and sunflower oils fell.
The FAO Dairy Value Index declined 1.2 % from October, and world quotations for butter, skim milk and entire milk powder fell amid weaker import demand, whereas these of cheese elevated, partly because of the much less dynamic export availabilities of the principle producing international locations within the West. Europe.
The FAO Meat Value Index was zero.9 % decrease in November than the earlier month as worldwide bovine meat costs fell as elevated export provides from Australia eased. added to already excessive provides from Brazil, regardless of continued robust import demand from China. In contrast, world costs for all different varieties of meat recovered, pushed by larger quotations for sheepmeat.
The FAO Sugar Value Index rose 5.2 % in November, influenced by robust shopping for amid tight international sugar provides on account of harvest delays in key producing international locations and India’s announcement of a decrease sugar export quota. Larger ethanol costs in Brazil additionally put upward stress on world sugar costs.
Extra particulars can be found right here. To entry benchmark export quotations for varied meals merchandise and nationwide retail/wholesale meals costs, go to FAO’s Meals Value Evaluation and Monitoring (FPMA) Device.
World cereal manufacturing forecast for 2022 lowered
Within the newest Cereal Provide and Demand Report, additionally launched at the moment, FAO additional minimize its forecast for world cereal manufacturing in 2022, which now stands at 2 756 million tonnes, a drop of two.zero % in comparison with 2021.
The discount largely displays poor corn manufacturing prospects within the Ukraine, the place the influence of the struggle has made post-harvest operations prohibitively costly. The FAO additionally lowered its forecast for world wheat manufacturing for the yr, however regardless of this minimize, the brand new determine of 781.2 million tonnes would nonetheless be a document. World rice manufacturing is anticipated to fall 2.four % under the earlier yr’s document excessive.
Wanting forward, planting of the 2023 winter wheat crop is underway amid issues concerning the affordability of key agricultural inputs and antagonistic climate situations in the US of America and the Russian Federation, though elevated costs of crops may assist preserve an space above the worldwide common. . Within the southern hemisphere, coarse grain crops are being planted, and official forecasts in Brazil level to a document space planted to maize.
Extra particulars and up to date forecasts for world cereal utilization within the 2022/23 season, for world cereal shares on the shut of the seasons in 2023 and for world cereal commerce can be found right here.
45 international locations want overseas help for meals
An estimated 45 international locations world wide, together with 33 in Africa, 9 in Asia, two in Latin America and the Caribbean, and one in Europe, are in want of exterior meals help on account of battle, excessive climate occasions, and skyrocketing inflation charges. in line with the newest report Crop Prospects and Meals Scenario, a quarterly publication of FAO’s World Data and Early Warning System (GIEWS).
Meals insecurity situations in East and West African international locations are of specific concern.
For low-income, food-deficit international locations, the 2022 cereal manufacturing is forecast at 184.5 million tonnes, on par with the common of the previous 5 years, whereas the entire cereal import requirement is forecast at 63.7 million tons, 7 % greater than within the final 5 years. -anual common.
Supply: FAO
