FAO publishes report on food prices; This is RD

ROME.- FAO’s international food price reference index declined again in January due to falling wheat and corn prices, the organization reported today, which also highlighted that “coarse grain production was completely “On its way to being affected.” “Higher times, boosting global supply and trade prospects.”

index of Food and Agriculture Organization of the United Nations (FAO), which analyzes the monthly change in international prices of a set of food products marketed throughout the world, recorded 118 points in January, a decrease of 1% compared to the previous month and 10.4% compared to January 2023. Shows less.

The fall in prices was driven by declines in grain and meat prices, which were more than offset by increases in sugar prices, the FAO said in a statement.

In detail, grain prices declined 2.2% compared to December-November following a decline in wheat “due to strong competition among exporters and the arrival of recently harvested supplies in Southern Hemisphere countries”.

While improved conditions and the start of harvest in Argentina and an increase in supplies in the United States resulted in a “significant decline” in corn prices, rice prices rose 1.2% in January due to strong export demand for indica. quality.

According to Dominican RepublicThe National Institute for the Protection of Consumer Rights (Pro Consumidor) publishes a report on this as every week. products Sold in commercial establishments, we present below a breakdown from the survey for the week of January 22 to 25, 2024:

Other prices presented by FAO

In contrast, vegetable oil prices increased by only 0.1% compared to the previous month, but remained 12.8% lower than last year, “reflecting moderate increases in international prices for palm oil and sunflower. Which compensates for the fall in soybean prices.” and rapeseed oil.

According to the FAO, the decline was due to “large supply prospects from South America and the persistence of large reserves in Europe, respectively”.

The meat price index declined 1.4% for the seventh consecutive month from December, as ample supplies from major exporting countries pushed down international prices of poultry, beef and pork.

In contrast, sheep meat prices increased due to higher global import demand and lower supplies of animals for slaughter in Oceania.

FAO Sugar prices in January rose 0.8 percent from the previous month, driven by “concerns about the potential impact of below-average rainfall on the sugarcane crop starting in April in Brazil.”

Furthermore, FAO revealed that global cereal production is on track to reach an all-time high of 2,836 million tonnes in 2023, an increase of 1.2% compared to 2022, according to new forecasts in the latest supply report. , also published today.