FAO Food Price Index dips again in AprilStaff Writer | May 5, 2017
Global food commodity prices fell in April amid expectations of ongoing robust supplies of many key staples.
Food price The FAO Food Price Index averaged 168 points
The Sugar Price Index led the decline, dropping 9.1 percent on the month as large export supplies from Brazil met with continued weak global import demand.
The FAO Vegetable Oil Price Index fell 3.9 percent on the month, pushed down by weakening demand for palm oil and expectations of bumper soy harvests and plantings in South and North America.
FAO's Food Price Index is a trade-weighted index tracking international market prices of five major food commodity groups.
The Cereal Price Index also shed 1.2 percent in April, pushed down by sagging wheat prices even as international rice prices firmed.
The Dairy Price Index fell 3.3 percent as production in the northern hemisphere entered peak season, allying short-term sourcing concern.
By contrast, the FAO Meat Price Index rose 1.7 percent, as pigmeat prices increased in response to strong domestic demand in the European Union and increased sales to China. ■