” He FAO food price index* stood at 119.1 points in April 2024, i.e. 0.3 points (0.3%) above its revised level in March, as the rise in the meat price index and increases More modest price indices for vegetable oils and cereals more than offset declines in the indices for sugar and dairy products. Although a second monthly increase was recorded in April after seven months of a downward trend, the value of the index was 9.6 points (7.4%) lower than a year ago.
” He FAO cereal price index It reached an average of 111.2 points in April, that is, 0.3 points (0.3%) more than in March, but 25 points (18.3%) below its value in April 2023. After declining for three consecutive months, global average wheat prices for export stabilized in April. Upward price pressure, stemming from concerns about unfavorable growing conditions affecting the 2024 crops in parts of the United States of America, the Russian Federation and the European Union, was offset by strong competition that continues to exist between the main exporting countries. On the contrary, export corn prices increased in April, mainly influenced by high import demand in a context of increasing logistical disruptions as a result of damage to Ukraine’s infrastructure and prospects for reduced production in Brazil before the start of the main harvest. As for other coarse grains, world barley prices also rose, while sorghum prices fell in April. The FAO price index for all types of rice decreased by 1.8%, largely due to declines in indica rice prices due to the impact of the harvest.
” He vegetable oil price index from FAO It stood at an average of 130.9 points, which represents an increase of 0.3 points (0.3%) compared to the previous month and the highest level in 13 months. This marginal increase is due to the net effect of the increase in the prices of sunflower and rapeseed oils, which more than offset the slight decrease in the prices of palm and soybean oils. International palm oil prices continued a downward trend in April, largely influenced by seasonal increases in production in major producing countries and persistent sluggishness in global import demand. Meanwhile, after a brief recovery, global soybean oil prices declined as a result of expectations of abundant supplies from South America thanks to favorable prospects for soybean production. In contrast, international prices for sunflower and rapeseed oils continued to rise, supported respectively by continued strength in global imports and concerns about unfavorable weather conditions for winter rapeseed in parts of Europe.
” He FAO Dairy Price Index registered an average of 123.7 points in April, a value slightly lower (0.3 points and 0.3%) than in March, which represents a contraction after six months of continuous increase, although it remained 5.5 points (an 4.3%) below the value recorded in the same month last year. International prices for skimmed milk powder declined the most, mainly due to weak import demand for spot supplies in a context of abundant exportable availabilities, especially in Western Europe. Meanwhile, world cheese prices fell slightly, mainly due to the strengthening of the US dollar. In contrast, world butter prices continued to rise due to continued import demand and butter stocks. somewhat smaller in Western Europe. Meanwhile, whole milk powder prices rebounded moderately due to increased demand for medium-term supplies and a seasonal decline in milk production in Oceania.
” He FAO meat price index* stood at an average of 116.3 points in April, that is, 1.9 points (1.6%) more than in March, which represents its third consecutive month of increase and leaves the index only slightly (one 0.4%) below its value a year ago. International poultry meat prices rose in April, supported by regular imports into Near Eastern countries in the face of continuing production problems stemming from avian flu outbreaks. Global beef prices also increased, driven by continued high demand from major importing countries, despite increased supplies from domestic sources in major importing countries. Sheep meat prices recovered slightly on market expectations of a seasonal reduction in supply in Oceania. In contrast, global pork prices fell marginally, reflecting weak domestic demand in Western Europe and persistent weakness in demand from major importing countries, especially China.
” He FAO sugar price index registered an average of 127.5 points in April, that is, 5.9 points (4.4%) less than in March, which represents the second consecutive monthly decrease and leaves the index 21.9 points (14.4%). 7%) below their value in April 2023. The decline in global sugar prices was mainly due to the improved outlook for global supply, in particular due to higher than expected production in India and Thailand. previously provided. In addition, increased rainfall in Brazil in late March and early April, following a prolonged period of dry weather conditions, eased concerns about the prospects for the just-started harvest and contributed to the month-on-month decline in prices. . The weakening of the Brazilian real against the US dollar also contributed to lower sugar prices in April. On the contrary, the rise in international crude oil and ethanol prices in Brazil contained the decline in world sugar prices.
*Unlike other commodity groups, most of the prices used in the calculation of the FAO Meat Price Index are not available at the time of computation and publication of the Organization’s Food Price Index ; Therefore, the value of the meat price index for the most recent months is derived from a combination of predicted and observed prices. This may sometimes require significant revisions to the final value of the FAO Meat Price Index which, in turn, could influence the value of the Organization’s Food Price Index.