2024-05-05 14:09:57
World food prices in April showed an increase in the aggregate index, which was mainly due to rising meat prices, says a press release from the UN Food and Agriculture Organization (FAO), Day.Az reports with reference to Prime.
“In April 2024, the value of the FAO food price index amounted to 119.1 points, which is 0.3 points (0.3%) higher than the revised March indicator: the decrease in the value of price indices for sugar and dairy products did not fully compensate for the increase in the value of price indices for meat and, to a lesser extent, for vegetable oils and grains,” the report says.
The meat price index showed the greatest growth – in April it rose to 116.3 points, which is 1.9 points (1.6%) higher than the March level. Thus, prices for poultry meat increased, which was facilitated by stable purchases by countries in the Middle East against the backdrop of ongoing production problems caused by outbreaks of bird flu. Global beef prices have also increased, driven by continued strong demand from major importing countries.
The vegetable oil price index rose to a 13-month high of 130.9 points, up 0.3 points (0.3%) from the previous month. This growth is due to increased prices for sunflower and rapeseed oils against the backdrop of lower prices for palm and soybean oils.
And the price index for dairy products amounted to 123.7 points, which is 0.3 points (0.3%) lower than the March level. Prices for skimmed milk powder fell the most significantly, primarily due to sluggish import demand on the spot market against the backdrop of high export supply, especially in Western Europe.
Cereal prices amounted to 111.2 points, which is also 0.3 points (0.3%) lower than the March level. In April, wheat prices stabilized after rising a month earlier due to concerns about unfavorable weather conditions for the development of crops for the 2024 harvest in some parts of the European Union, Russia and the United States.
The sugar price index, in turn, in April decreased by 5.9 points (4.4%), to 127.5 points. The decline in global sugar prices was primarily due to expected increases in global supply, including stronger-than-previously forecast production growth in India and Thailand.
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