ROME (Reuters) – Environment meals charges rose for a seventh consecutive month in December, with all the major categories, barring sugar, posting gains very last month, the United Nations food stuff agency explained on Thursday.
The Meals and Agriculture Organization’s food stuff selling price index, which measures regular variations for a basket of cereals, oilseeds, dairy merchandise, meat and sugar, averaged 107.5 factors last month as opposed to 105.2 in November.
The November determine was earlier supplied as 105..
For the total of 2020, the benchmark index averaged 97.9 details, a 3-year large and a 3.1% maximize from 2019. It was continue to down extra than 25% from its historical peak in 2011.
Vegetable oil selling prices ongoing current strong gains, jumping 4.7% month-on-month in December right after surging extra than 14.% in November. For the whole of 2020, the index was up 19.1% on 2019.
FAO claimed offer tightness in key palm oil producing nations around the world had pushed price ranges up, while trade was also impacted by a sharp hike in export responsibilities in Indonesia. Charges for soy oil rose partly for the reason that of prolonged strikes in Argentina. [POI/]
The cereal cost index posted a additional modest 1.1% increase in December from the thirty day period ahead of. For all of 2020 the index averaged 6.6% over 2019 amounts.
Export costs for wheat, maize, sorghum and rice all rose in December, relocating higher in component due to considerations more than rising disorders and crop prospective customers in North and South The us as properly as Russia, the Rome-based mostly FAO explained.
The dairy index climbed 3.2% on the month, however, around the complete of 2020, it averaged some 1.% a lot less than in 2019.
In December, all factors of the index rose owing to potent international import desire triggered by problems above drier and warmer ailments on Oceania’s milk production as nicely as higher inner demand from customers in Western Europe.
The meat index pushed up 1.7% very last thirty day period, when its complete-12 months typical was 4.5% down below that of 2019. FAO explained poultry quotations rebounded in December, partly owing to the influence of avian influenza outbreaks in Europe. Having said that, pig meat costs fell slightly, hit by the suspension of German exports to Asian markets following African Swine Fever outbreaks.
Bucking the rises in other indices, average sugar prices dipped by .6% in December. For 2020 as a complete, the sub-index posted a most 1.1% achieve on 2019 amounts. FAO said the relative firmness of newest information mirrored a surge in imports by China and improved demand from customers for refined sugar from Indonesia. [SOF/L]
FAO did not problem an current forecast for around the world cereal harvests in January. Its future estimate is thanks in February.
Previous month, FAO revised down its forecast for the 2020 cereal period for a 3rd thirty day period working, reducing it to 2.742 billion tonnes from a previous 2.75 billion tonnes.
Reporting by Crispian Balmer