Previous Story
Sugar and dairy prices rise slightly in October
Posted On 10 Nov 2016
International food prices grew by 0.7 % in October due to increases in sugar and milk products, the United Nations Food and Agriculture Organization (FAO) announced on November 10, 2016. The FAO index – which measures the evolution of prices of the primary commodities – stood at 172.6 points, 9.1% more than in October 2015, following an upward trend throughout 2016 excepting a slight decline in July. In a statement, the agency said that the price of sugar rose by 3.4% in September after the news that production will shrink in Brazil and India.
Meanwhile, dairy products rose by 3.9% as a result of sustained domestic demand in the European Union (EU) after stocks fell. Regarding cereals, prices rose slightly by 1% due to a shortage of high-quality wheat supplies, although global harvest prospects have improved and grain production is expected to reach 2,571 million tons in 2016 (1.5% more than in 2015). The FAO expects that wheat production in Russia reaches a new record and yields improve in Kazakhstan, offsetting the decline of maize harvests due to bad weather in Brazil, China, the EU and the United States.
Source: http://www.elcomercio.
