The Un Nutrient As Well As Agricultural Organization's Nutrient Cost Index For November, 2018

From the FAO, Dec 6:

FAO Food Price Index registered about other refuse inwards November

Release date: 06/12/2018

» The FAO Food Price Index* (FFPI) averaged 160.8 points inwards Nov 2018, downwards 2.1 points (1.3 percent) from October, the lowest since May 2016, as well as nearly xv points (8.5 percent) below its degree inwards the corresponding menses final year. The refuse inwards Nov was led past times much weaker vegetable oil, dairy as well as cereal prices. Meat values equally good fell, though slightly, spell carbohydrate prices firmed.

» The FAO Cereal Price Index averaged nigh 164 points inwards November, about 1.7 points (1.1 percent) below Oct as well as xi points (7.1 percent) downwards from Nov 2016 average. Large nearby export supplies weighed on wheat prices spell intensified export contest seat downward pressure level on maize quotations. New crop arrivals continued to weigh on rice export quotations despite about back upward provided past times necessitate from the Philippines as well as expectations of lower fragrant rice production inwards about cardinal exporting countries.

» The FAO Vegetable Oil Price Index averaged 125.3 points inwards November, downwards 7.6 points (5.7 percent) month-on-month, mark the 10th consecutive monthly autumn as well as a twelve-year low. The refuse reflects weakening prices across the vegetable crude oil sector. International palm crude oil quotations posted a marked drop, fuelled past times both persisting large inventories inwards leading exporting countries as well as the recent contraction inwards global mineral crude oil prices. At the same time, soy crude oil as well as sunflower crude oil values weakened amid, respectively, abundant supplies across the US, the European Union as well as several emerging markets as well as positive production prospects inwards the Black Sea region.

» The FAO Dairy Price Index averaged 175.8 points inwards November, downwards 6 points (3.3 percent) from October, representing the 6th consecutive month-on-month drop. At this level, the index is 13.9 pct below its value inwards the corresponding calendar month final twelvemonth as well as 18.3 pct below its highest degree reached this twelvemonth (in May). In November, international cost quotations of butter, cheese as well as Whole Milk Powder declined, driven past times large stocks coupled amongst increased availability of export supplies, specially from New Zealand. By contrast, Skim Milk Powder prices partially recovered inwards November, mainly on stronger import measuring past times buyers seeking immediate deliveries.

» The FAO Meat Price Index* averaged 160 points inwards November, marginally lower than its slightly revised value for October, as well as 7.4 pct below its degree inwards the corresponding calendar month final year. In November, international cost quotations for poultry, grunter as well as ovine meat continued to ease, amongst ovine meat falling the most, spell those of bovine meat marginally recovered. Notwithstanding increased necessitate from Asia, ovine prices declined, underpinned past times high export supplies from Oceania.  Pigmeat cost quotations roughshod for the tertiary consecutive month, reflecting availability of large export supplies from primary producing regions as well as continued merchandise restrictions imposed on draw of piece of job concern human relationship of African swine fever outbreaks. Poultry meat prices remained nether pressure level due to slack demand. By contrast, later 5 months of declines, bovine meat prices rebounded slightly, supported past times somewhat express location supplies as well as draw of piece of job solid necessitate from Asian markets....

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