Global food prices fall for the third straight month

The mean value of the index of food prices analysts from the food and agriculture organization of the United Nations, in June continued a slight decline, making it the third straight month. This is reported on the organization's website.

Der Indexwert lag im Juni bei 154,2 Punkten und damit 2,3 Prozent unter dem Wert vom Mai. Dieser Rückgang ist auf die negative Dynamik der Weltpreise für pflanzliche Öle, Grains and Sugar zurückzuführen, während Milchprodukte und Fleisch im Preis gestiegen sind.

In particular, the average value of the grain price index in June at 166,3 points, which is 4,1 percent below the level of May but 27,6 percent above the level of June 2021. At the same time, the world fell wheat prices up 5,7% in June but still 48,5% up year-on-year.

The reasons for the decline in June are the seasonal increase in available grain in the northern hemisphere, favorable conditions for wheat growing and expected growth in production in Russia in some of the largest producing countries. Global feed grain prices also fell 4,1 percent, but were still 18,4 percent higher than a year earlier. The worldwide corn prices are down 3,5% from the previous month due to seasonal increases in available grain quantities in Argentina and Brazil and the conditions for growing this crop in the USA are cheap.

The average price index for vegetable oils in June was 211,8 points, 7,6 percent below the level in May. Global palm oil prices showed a decline as production in major producing countries increases seasonally and shipments from Indonesia were forecast. At the same time, world prices for Sunflowers– and soybean oil fell due to falling demand from global importers amid rising costs.

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