The Food and Agriculture Organization of the United Nations released a cereal supply and demand briefing and food price index report on the 8th. According to the report, the global food price index fell by 2.1% in August, down 24% from the historical high in March 2022.
Except for the increase in the price index of rice and sugar, the price index of other agricultural products fell as a whole. The report pointed out that the vegetable oil price index fell by 3.1% month-on-month. World sunflower oil prices also fell by nearly 8%, mainly due to reduced global import demand and sufficient supply from major exporting countries. Affected by factors such as increased seasonal supply, the cereal price index fell by 0.7% month-on-month in August. Among them, international wheat prices fell by 3.8%, and international coarse grain prices also fell by 3.4%.
However, rice and sugar price indexes rose in August. Affected by the ban on exports of polished indica rice from India, a major rice exporter, in July, the rice price index rose by nearly 10% month-on-month in August, setting the highest value in the past 15 years. At the same time, the sugar price index increased by 1.3% month-on-month in August and increased by approximately 34% year-on-year.
According to the grain supply and demand briefing, grain production in 2023 may reach 2.815 billion tons. The briefing believes that although global wheat production is expected to decrease by 2.6%, global coarse grain production will increase by 2.7% year-on-year, and rice production is expected to increase by 1.1% compared with last year.
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2023-09-10 10:29:00
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