Food prices stable at world market

Food prices stable at world market

Food prices stable at world market

 

 
According to the FAO, despite a fall in the prices of sugar and dairy products, the market was affected by the rise in prices of vegetable oils, up 8 percent on the previous month. This was due to increase of 13 percent in the price of palm oil, following news of a possible decline in production in the near future.
 
The index of FAO food prices is a weighted calculation based on international trade in five main groups of food commodities: cereals, vegetable oils, dairy products, meat and sugar.
 
The UN body also published its first forecast for the world wheat harvest in 2016, with a projection of 723 million tons, nearly 10 million less than last year's record.
 
The main cause is the dry weather, which has caused a reduction in winter planting in Russia and Ukraine. However, it is expected that China and Pakistan will harvest wheat crops in record levels.
 
 

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