In August, the Food and Agriculture Organization (FAO) average food price index fell further for the fifth straight month to stand at 138 points, down 2,7 points (1,9%) from the July level. The moderate decline affected all five sub-indices of the index, which fell in value ranging from 1,4% in the case of the grain price index to 3,3% for the vegetable oil price index, the organization's analysts said.
In August are the international wheat prices down 5,1%, reflecting improvement in crop types, particularly in Canada USA and Russia, as well as a seasonal increase in supply in the Northern Hemisphere countries where the harvest campaign continues and a resumption of exports from Ukraine's Black Sea ports after more than five months of harvest season. Break.
The worldwide prices for feed grain increased slightly in August (by 0,2%). At the same time, the global corn prices increased by 1,5%, mainly due to the decline in crop types in the EU and the USA due to hot and dry weather conditions, while the resumption of grain exports from Ukraine did not increase prices even more significantly. At the same time, global prices for Barley and Millet down in August – by 3,8% and 3,4% respectively.
The average price index for vegetable oils in August was 163,3 points, which is 5,5 points (3,3%) lower than the previous month but still slightly above last year's level. This continued decline was due to a drop in world prices for palm, Sunflower oil- and Rapeseed oil attributed to the increase in soybean oil prices more than compensated.