Saturday, April 26, 2025
3:41 AM
Doha,Qatar
FRESH PRODUCE: Honolulu's bustling Chinatown is a food lover’s paradise, with numerous ethnic restau

World food prices post biggest rise for four years in June: FAO

World food prices posted their biggest monthly rise for four years in June, buoyed by a surge in sugar and increases for most other edible commodities, the United Nations food agency said on Thursday.

Food prices have been gaining ground since hitting a near seven-year low in January after four straight annual declines, and the United Nations Food and Agriculture Agency (FAO) now expects them to be stable for the next decade.

The 4.2 percent gain from May was the fifth increase in a row for the index, which measures monthly changes for a basket of cereals, oilseeds, dairy products, meat and sugar.

Food prices on international markets are now just 1 percent below the same month last year, the FAO said.

The FAO's forecast for 10 years of stable prices, released on Monday, reinforced the view that agricultural commodities are emerging from an era of intense volatility unleashed by price spikes and supply tensions in 2007-2008.

Sugar prices rose 14.8 percent in June as heavy rains hampered sugar harvesting and affected yields in the world's largest producer, Brazil, the FAO said.

Wet weather also reduced the amount of sugar that could be recovered from each tonne of cane, prompting producers to divert more sugarcane to ethanol production, boosting prices further.

Vegetable oil prices defied the upward trend to slip 0.8 percent, led by palm oil, which saw subdued global import demand and a seasonal recovery in production in Indonesia and Malaysia.

The FAO raised its forecast for world cereal production in the 2016-17 season to 2.544 billion tonnes, 15.3 million tonnes higher than last year but still below 2014's record harvest.

The upgrade is mainly based on improved prospects for wheat production, now forecast to hit 732 million tonnes due to better weather in the European Union, Russia and the United States.

Wheat utilisation is also set to rise, the FAO said, as demand grows for its use in animal feed in the EU, Indonesia and the United States, but also for food consumption and industrial usage.

This higher consumption means global stocks by the end of the season in 2017 will be 1.5 percent below the opening level.

Comments
  • There are no comments.

Add Comments

B1Details

Latest News

SPORT

Canada's youngsters set stage for new era

Saying goodbye is never easy, especially when you are saying farewell to those that have left a positive impression. That was the case earlier this month when Canada hosted Mexico in a friendly at BC Place stadium in Vancouver.

1:43 PM February 26 2017
TECHNOLOGY

A payment plan for universal education

Some 60mn primary-school-age children have no access to formal education

11:46 AM December 14 2016
CULTURE

10-man Lekhwiya leave it late to draw Rayyan 2-2

Lekhwiya’s El Arabi scores the equaliser after Tresor is sent off; Tabata, al-Harazi score for QSL champions

7:10 AM November 26 2016
ARABIA

Yemeni minister hopes 48-hour truce will be maintained

The Yemeni Minister of Tourism, Dr Mohamed Abdul Majid Qubati, yesterday expressed hope that the 48-hour ceasefire in Yemen declared by the Command of Coalition Forces on Saturday will be maintained in order to lift the siege imposed on Taz City and ease the entry of humanitarian aid to the besieged

10:30 AM November 27 2016
ARABIA

QM initiative aims to educate society on arts and heritage

Some 200 teachers from schools across the country attended Qatar Museum’s (QM) first ever Teachers Council at the Museum of Islamic Art (MIA) yesterday.

10:55 PM November 27 2016
ARABIA

Qatar, Indonesia to boost judicial ties

The Supreme Judiciary Council (SJC) of Qatar and the Indonesian Supreme Court (SCI) have signed a Memorandum of Understanding (MoU) on judicial co-operation, it was announced yesterday.

10:30 AM November 28 2016
ECONOMY

Sri Lanka eyes Qatar LNG to fuel power plants in ‘clean energy shift’

Sri Lanka is keen on importing liquefied natural gas (LNG) from Qatar as part of government policy to shift to clean energy, Minister of City Planning and Water Supply Rauff Hakeem has said.

10:25 AM November 12 2016
B2Details
C7Details