Friday, July 07, 2017

Global food prices rise 1.4% in June, says FAO

Food prices rose by 1.4% in June, compared with may, and 7% compared with the same month of the past, informed the United Nations food and Agriculture Organization (FAO). In your monthly report, the Agency said that the high was motivated primarily by the progress of prices on dairy and cereal sectors, in addition to firm prices for meat. The prices of vegetable oils and sugar, for your time, retreated.
The FAO projects a global production of cereals in this year''s 2.593 billion tons, 1.2 million tons unless the previous report. The revision reflects cuts in production of barley and wheat, especially in the European Union, said the FAO. Global wheat production was estimated at 739,900,000 tons, about 0.4% less compared to the previous cycle, due to smaller crops in the European Union and Ukraine.
The cost of grains increased 4.2% influenced by the prices of high-protein wheat because worse growing conditions in the US. The values of corn decreased due to record crops in South America. The other fall occurred in the sugar, which is down 13% compared with may. The product has fallen since February because of availability, especially in Brazil.
DCI - 07/07/17
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