Animals
Business
Crops
Environment
Food
General
Horticulture
Livestock
Machinery
Markets
Politics
Login
 
 
 
Submit to register and subscribe
(72,60 / year)
 
I forgot my password

 12 feb 2018 07:29 

FAO Food Price Index steady in January 2018


The FAO Food Price Index (FFPI) averaged 169.5 points in January 2018, nearly unchanged from December 2017 but almost 3 percent below the corresponding period last year. While firmer prices were registered for cereals and vegetable oils in January, dairy and sugar values were generally weaker and meat quotations remained steady.

The FAO Cereal Price Index averaged 156.2 points in January, up almost 2.5 percent (4 points) from December and 6.3 percent from January 2017. Despite large supplies, wheat and maize prices received some support from a weaker US dollar as well as concerns over weather. International rice values continued to firm up in January, sustained mainly by renewed Asian demand.

The FAO Vegetable Oil Price Index averaged 163.1 points in January, virtually unchanged from December, as moderate rises in palm oil values were outweighed by weakening prices for other oils, notably sunflower and rapeseed oils. International palm oil quotations strengthened as global import demand picked up just when seasonal production declines were looming in Southeast Asia.

By contrast, rapeseed oil prices were pressured by both excess supplies in the EU and larger than expected availabilities in North America and Australia, while those of sunflower oil were affected by sluggish global import demand.

The FAO Dairy Price Index averaged 179.9 points in January, down 2.4 percent (4.5 points) from December 2017. Although this decline pushed the index further down for the fourth consecutive month, it is still 41 percent higher than its trough reached in April 2016. During the month, international price quotations for butter and cheese declined, while those of milk powders increased.

Abundant milk supplies in the northern hemisphere and Australia represented a factor that heavily influenced global dairy prices, including the declines in butter and cheese prices. However, the possibility for seasonal milk production in New Zealand to be lower than expected lent support to Whole Milk Powder (WMP) prices. Skim Milk Powder (SMP) values also increased, mostly on account of strong import demand.

The FAO Meat Price Index averaged 170.6 points in January, almost unchanged from its slightly revised value for December 2017. At this level, the index is 7.4 percent higher than its January 2017 value and 19.5 percent below its all-time high reached in August 2014. International price quotations for poultry and pigmeat continued to slide due to higher export availabilities amid weak import demand. Prices of bovine meat were up marginally, reflecting lower quantities offered for sale from Oceania, while those of ovine meat rose supported by strong international demand, especially from Asia and the Middle East.

The FAO Sugar Price Index averaged almost 201 points in January, down 1.6 percent (3.2 points) from December and as much as 30.4 percent below the corresponding month last year. International sugar quotations remained under downward pressure mostly because of strong production outcomes in major producing countries and, hence, ample export availabilities.



  Newsflash
 
Support Fruit and Vegetable Producer Organisations in future regime #FruitVeg4YouLees meer
 
 
Satellite based data show fishing affects four times larger area than agricultureLees meer
 
 
Thursday 22 and Friday 23 February: EU Industry Day debates on the "Road to 2030"Lees meer
 
 
Local and regional leadership for clean energy and climate actionLees meer
 
 
Copa and Cogeca welcome Roadmap updating the EU Bioeconomy StrategyLees meer
 
 
New technical requirements for tractors resulted in peak in sales in December 2017Lees meer
 
 
Simplification must be at heart of Future CAPLees meer
 
 
EU agri-food exports are holding strongLees meer
 
 
Commission clears acquisition of Bake & Co by Dr. OetkerLees meer
 
 
New Holland and The Climate Corporation partner to deliver two-way data sharingLees meer
 
 
EC proposes 2.1 mio euro from Globalisation Adjustment Fund for former Goodyear workers in GermanyLees meer
 
 
EC clears acquisition of sole control over Kuehne + Nagel Drinksflow Logistics by Kuehne + NagelLees meer
 
 
Fighting animal and plant diseases: 154 million earmarked for 2018Lees meer
 
 
The future of food and farming - Communication on the Common Agricultural Policy post-2020Lees meer