Mexico City. The Food and Agriculture Organization (FAO) food price index rose 3 percent in September from August. However, the product that saw the greatest increase in price was sugar, whose prices increased 10.4 percent monthly.
According to the international organization, the measurement, which shows the monthly variation in international prices of a basket of food products, stood at 124.4 points in the ninth month of 2024, a level that was 3 percent higher than that observed a month before. , which translated into “the largest monthly increase since March 2022.”
Compared to historical levels, the September index was 2.1 percent below its corresponding value a year ago and 22.4 percent below the peak of 160.3 points reached in March 2022.
However, the FAO highlighted that the product that observed the greatest variation was sugar, whose price index stood at an average of 125.7 points, a level that represented an increase of 10.4 percent compared to August.
This behavior was explained by concerns about more limited global availability in the upcoming 2024/25 campaign.
“The worsening crop prospects in Brazil, due to prolonged drought and fire damage to sugar cane fields in late August, was the main factor in the increase in global sugar prices,” he noted. the FAO.
He noted that concerns that the availability of exportable sugar from India could be affected by the government’s decision to lift restrictions on the use of sugarcane for ethanol production also contributed to the overall rise in global sugar prices. .
However, the FAO indicated that the level of the index observed in September was 22.7 percent lower than the value reached in the same month of 2023.
The FAO cereal price index stood at an average of 113.5 points in September, which translated into a monthly increase of 3.0 percent, but 10.2 percent lower than the same month in 2023.
The FAO noted that after having decreased for three consecutive months, world wheat prices increased in the reference period, largely due to concerns about unfavorable weather conditions in some major exporting countries.
Due to the rise in global prices for palm, soybean, sunflower and rapeseed oils, the international organization’s measurement of vegetable oil prices stood at 142.4 points in September, which represents an increase of 4.6 percent since August. and constitutes the highest level since the beginning of 2023.
The increase in prices in all dairy products worldwide caused the index of these products to stand at 136.3 points, which translated into a monthly advance of 3.8 percent, but compared to the ninth month of the year it was higher by 21.7 percent.
The FAO meat price index stood at 119.6 points, a level that represented a slight increase of 0.4 percent compared to August and 4.8 percent annually.
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– 2024-10-07 13:59:48
