Surging cereal export prices brought the FAO Food Price Index to a two-year high in January. The Index rose 2.1 percent above its December level, to 173.8 points. This is the highest level seen since February 2015 and as much as 24.5 points above its January 2016 level.
The FAO Food Price Index fell for the fifth consecutive year in 2016, according to the most recently released report. For 2016 overall, the Index averaged 161.6 points, which is down 1.5 percent from its 2015 average. Cereal, meat, and dairy prices all declined in 2016, more than making up for rises in sugar and vegetable oil prices.
The FAO Food Price Index, released today, fell slightly in November but remains 10.4 percent higher than its November 2015 level. This month's small decline, driven mostly by falling oil prices, interrupted the rising trend seen since the start of 2016.
The Cereal Price Index fell 0.6 percent in November and is as much as 12 points below its year-earlier level. Good global supply prospects, particularly for wheat in Argentina and Australia, have supported this decrease.
The latest editions of the FAO Food Price Index and AMIS Market Monitor were both released on November 10. The FAO Food Price Index is a measure of the monthly change in international prices of a basket of five food commodity groups; the monthly AMIS Market Monitor covers the international markets for wheat, rice, maize, and soy and provides an overview of the market situation and outlook for each of these crops.
The latest editions of the FAO Food Price Index and AMIS Market Monitor were both released on October 6. The FAO Food Price Index is a measure of the monthly change in international prices of a basket of five food commodity groups, while the AMIS Market Monitor covers the international markets for wheat, rice, maize, and soy and provides an overview of the market situation and outlook for each of these crops.
The August FAO Food Price Index increased by 3 points (1.9 percent) from July to 165.6 points reaching a 15 month high. This increase was predominantly driven by price increases in dairy, oils and sugar, though all commodities covered except for cereals experienced an increase.
The July FAO Food Price Index fell by 1.3 points following five consecutive months of increases. The slightly drop in July was driven mostly by lower international quotations of grains and vegetable oils.
The FAO Food Price Index rose again in June for the fifth consecutive month, based largely on surging sugar prices and more moderate increases for cereals, dairy, and meat. The 6.6 point increase represents the largest monthly movement in the last four years.
The Cereals Index rose 4.4 points from May, but remains 3.9 percent below June 2015 levels. Strengthened maize prices drove most of this month's increases, as tightening export supplies in Brazil caused prices to rise.
The latest FAO Food Price Index, released today, rose 3.2 points from April. This is the fourth consecutive month to see a slight increase in the Index; however, prices remain 7 percent below May 2015 levels.
The latest FAO Food Price Index was released this week, rising slightly from February but well below levels in March 2015. Sugar prices and vegetable oil prices rose sharply in March, but this change was offset by declines in dairy prices.