{"id":2323,"date":"2023-09-09T16:00:00","date_gmt":"2023-09-09T16:00:00","guid":{"rendered":"https:\/\/blog.kisansabha.in\/?p=2323"},"modified":"2023-09-09T09:56:39","modified_gmt":"2023-09-09T09:56:39","slug":"world-food-price-index-at-two-year-low-despite-rice-surge-after-indias-export-curbs","status":"publish","type":"post","link":"https:\/\/blog.kisansabha.in\/index.php\/2023\/09\/09\/world-food-price-index-at-two-year-low-despite-rice-surge-after-indias-export-curbs\/","title":{"rendered":"World food price index at two-year low despite rice surge after India’s export curbs"},"content":{"rendered":"\n

Synopsis<\/p>\n\n\n\n

Food prices: The United Nations Food and Agriculture Organization (FAO) reported that its world price index for food fell to a two-year low in August. The decline was driven by decreases in most food commodities, although rice and sugar prices increased. The overall index was 24% lower than its all-time high in March 2022.<\/h3>\n\n\n\n

The United Nations food agency’s world price index fell in August to a new two-year low, reversing a rebound seen the previous month, as a decline in most food commodities offset increases for rice and sugar.<\/p>\n\n\n\n

The Food and Agriculture Organization’s (FAO) price index, which tracks the most globally traded food commodities, averaged 121.4 points in August against a revised 124.0 for the previous month, the agency said on Friday.<\/p>\n\n\n\n

The July reading was initially given as 123.9 in a rebound from a two-year low in June.<\/p>\n\n\n\n

The August figure was the lowest since March 2021 and also 24% below an all-time high reached in March 2022 in the wake of Russia’s invasion of Ukraine.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

The drop in the overall index reflected declines for dairy products, vegetable oils, meat and cereals, despite a jump in FAO’s rice benchmark to a 15-year high following Indian export restrictions, the agency said.<\/p>\n\n\n\n

FAO’s cereal index edged down 0.7% from July as wheat prices fell in the face of northern hemisphere harvests while maize (corn) fell for a seventh straight month to a near three-year low, pressured by a record Brazilian crop and the approaching U.S. harvest, it said.<\/p>\n\n\n\n

In contrast, the agency’s rice index surged by almost 10% month-on-month as India’s decision in July to ban Indica white rice exports disrupted trade at a time of tight availabilities ahead of new-crop harvests, FAO said.<\/p>\n\n\n\n

FAO’s sugar index rose 1.3% month-on-month in August, putting it 34% above the year-earlier level, supported by concerns about impact of the El Nino weather pattern on global production.<\/p>\n\n\n\n

Vegetable oil prices were down 3.1% in August, while dairy prices slipped 4%, an eighth straight monthly drop that reflected ample supply in Oceania and slower Chinese imports.<\/p>\n\n\n\n

In a separate report on cereal supply and demand, the FAO forecast world cereal production this year at 2.815 billion tonnes, down slightly from a previous estimate of 2.819 billion.<\/p>\n\n\n\n

The latest forecast was nonetheless up 0.9% on 2022 and matched record output from 2021, the FAO said.<\/p>\n\n\n\n

The downward revision mainly reflected a cut to projected wheat output as dry weather affected Canada and the European Union and heavy rain affected Chinese crops, FAO said.<\/p>\n\n\n\n

Read more at-https:\/\/shorturl.at\/vDX06<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Synopsis Food prices: The United Nations Food and Agriculture Organization (FAO) reported that its world price index for food fell to a two-year low in August. The decline was driven by decreases in most food commodities, although rice and sugar prices increased. The overall index was 24% lower than its all-time high in March 2022. […]<\/p>\n","protected":false},"author":7,"featured_media":2325,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ocean_post_layout":"","ocean_both_sidebars_style":"","ocean_both_sidebars_content_width":0,"ocean_both_sidebars_sidebars_width":0,"ocean_sidebar":"","ocean_second_sidebar":"","ocean_disable_margins":"enable","ocean_add_body_class":"","ocean_shortcode_before_top_bar":"","ocean_shortcode_after_top_bar":"","ocean_shortcode_before_header":"","ocean_shortcode_after_header":"","ocean_has_shortcode":"","ocean_shortcode_after_title":"","ocean_shortcode_before_footer_widgets":"","ocean_shortcode_after_footer_widgets":"","ocean_shortcode_before_footer_bottom":"","ocean_shortcode_after_footer_bottom":"","ocean_display_top_bar":"default","ocean_display_header":"default","ocean_header_style":"","ocean_center_header_left_menu":"","ocean_custom_header_template":"","ocean_custom_logo":0,"ocean_custom_retina_logo":0,"ocean_custom_logo_max_width":0,"ocean_custom_logo_tablet_max_width":0,"ocean_custom_logo_mobile_max_width":0,"ocean_custom_logo_max_height":0,"ocean_custom_logo_tablet_max_height":0,"ocean_custom_logo_mobile_max_height":0,"ocean_header_custom_menu":"","ocean_menu_typo_font_family":"","ocean_menu_typo_font_subset":"","ocean_menu_typo_font_size":0,"ocean_menu_typo_font_size_tablet":0,"ocean_menu_typo_font_size_mobile":0,"ocean_menu_typo_font_size_unit":"px","ocean_menu_typo_font_weight":"","ocean_menu_typo_font_weight_tablet":"","ocean_menu_typo_font_weight_mobile":"","ocean_menu_typo_transform":"","ocean_menu_typo_transform_tablet":"","ocean_menu_typo_transform_mobile":"","ocean_menu_typo_line_height":0,"ocean_menu_typo_line_height_tablet":0,"ocean_menu_typo_line_height_mobile":0,"ocean_menu_typo_line_height_unit":"","ocean_menu_typo_spacing":0,"ocean_menu_typo_spacing_tablet":0,"ocean_menu_typo_spacing_mobile":0,"ocean_menu_typo_spacing_unit":"","ocean_menu_link_color":"","ocean_menu_link_color_hover":"","ocean_menu_link_color_active":"","ocean_menu_link_background":"","ocean_menu_link_hover_background":"","ocean_menu_link_active_background":"","ocean_menu_social_links_bg":"","ocean_menu_social_hover_links_bg":"","ocean_menu_social_links_color":"","ocean_menu_social_hover_links_color":"","ocean_disable_title":"default","ocean_disable_heading":"default","ocean_post_title":"","ocean_post_subheading":"","ocean_post_title_style":"","ocean_post_title_background_color":"","ocean_post_title_background":0,"ocean_post_title_bg_image_position":"","ocean_post_title_bg_image_attachment":"","ocean_post_title_bg_image_repeat":"","ocean_post_title_bg_image_size":"","ocean_post_title_height":0,"ocean_post_title_bg_overlay":0.5,"ocean_post_title_bg_overlay_color":"","ocean_disable_breadcrumbs":"default","ocean_breadcrumbs_color":"","ocean_breadcrumbs_separator_color":"","ocean_breadcrumbs_links_color":"","ocean_breadcrumbs_links_hover_color":"","ocean_display_footer_widgets":"default","ocean_display_footer_bottom":"default","ocean_custom_footer_template":"","ocean_post_oembed":"","ocean_post_self_hosted_media":"","ocean_post_video_embed":"","ocean_link_format":"","ocean_link_format_target":"self","ocean_quote_format":"","ocean_quote_format_link":"post","ocean_gallery_link_images":"on","ocean_gallery_id":[],"footnotes":""},"categories":[41,143],"tags":[45,453,748],"class_list":["post-2323","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-agricultural-updates","category-farmers-news","tag-agricultire-updates","tag-fao","tag-world-food-price","entry","has-media"],"yoast_head":"\r\nWorld food price index at two-year low despite rice surge after India's export curbs - KisanSabha Blog<\/title>\r\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\r\n<link rel=\"canonical\" href=\"https:\/\/blog.kisansabha.in\/index.php\/2023\/09\/09\/world-food-price-index-at-two-year-low-despite-rice-surge-after-indias-export-curbs\/\" \/>\r\n<meta property=\"og:locale\" content=\"en_US\" \/>\r\n<meta property=\"og:type\" content=\"article\" \/>\r\n<meta property=\"og:title\" content=\"World food price index at two-year low despite rice surge after India's export curbs - KisanSabha Blog\" \/>\r\n<meta property=\"og:description\" content=\"Synopsis Food prices: The United Nations Food and Agriculture Organization (FAO) reported that its world price index for food fell to a two-year low in August. 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