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HomeLatest NewsUN: World food prices rise for third consecutive month - Rossiyskaya Gazeta

UN: World food prices rise for third consecutive month – Rossiyskaya Gazeta

Date: July 14, 2024 Time: 13:31:36

The FAO Food Price Index, which tracks global prices for a basket of goods, rose 0.9 percent in May from April. In May, growth was driven by a 6.3 percent rise in the grain price index. Concern about the upcoming wheat harvest is increasing in both Europe, North America and the Black Sea region, raising fears of a sharp rise in export prices. There are also doubts about corn production in Argentina due to crop diseases and in Brazil due to unfavorable weather, which is also driving up prices for the yellow grain, Belga news agency reports.

The dairy price index, in turn, rose 2.3 percent, driven by strong demand from both consumers and the food service industry, as well as expectations of lower milk production in Europe. Western. Sugar prices, on the other hand, fell 7.5 percent, mainly due to the good start of the harvest in Brazil.

The FAO, which also publishes its first forecasts for the 2024-25 harvest, expects cereal production to be at approximately the same level as in previous harvests. Production of corn and wheat is expected to decrease, but that of barley, rice and sorghum is expected to increase.

* This website provides news content gathered from various internet sources. It is crucial to understand that we are not responsible for the accuracy, completeness, or reliability of the information presented Read More

Hansen Taylor
Hansen Taylor
Hansen Taylor is a full-time editor for ePrimefeed covering sports and movie news.
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