Sharply lower prices for vegetable oils, down nearly 10 percent in a month, contributed to the first decline in the Food Price Index since last May, said the UN Food and Agriculture Organization on Thursday. The index fell by 2.5 percent in June, although it was still about one-third higher than a year ago.
Global food prices are the highest they've been since June 2014, according to a monthly index compiled by the UN Food and Agriculture Organization. The Food Price Index rose by 2.1 percent, its 10th increase in a row, said the FAO on Thursday.
World leaders must remain vigilant to keep food trade flowing during the pandemic and to continue using trade as a lever to improve farm income and productivity, said the head of the UN Food and Agriculture Organization on Sunday. Speaking during the Group of 20 summit held online, director general Qu Dongyu said, "It is essential for the G20 to keep working on preventing this health crisis from becoming a global food crisis."
Global meat consumption will grow by 12 percent in the coming decade, with lower-cost poultry accounting for half of the increase, said the OECD and FAO on Thursday. Their jointly produced Agricultural Outlook report also said that aquaculture would overtake "capture fisheries" as the leading source of fish worldwide by 2024.
With production surging by 4.4 percent, corn will drive world cereal grain production to record levels in 2020/21, said the UN Food and Agriculture Organization in its first forecast of the new crops. It was the second forecast in a week of record global output as the planting season ends in the northern hemisphere.
The UN International Fund for Agricultural Development committed $40 million to support farmers and rural communities in producing food during the coronavirus pandemic. "We need to act now to stop this health crisis transforming into a food crisis," said IFAD president Gilbert Houngbo. IFAD hopes to raise an additional $200 million from UN members, foundations and the private sector. (No paywall)
The coronavirus has upended most aspects of life in Europe, but after a spate of hoarding early in the pandemic, shopping has returned to normal as food producers and retailers work to keep supply chains flowing and shelves stocked. This could be instructive to the United States, which is behind Europe in the progression of the disease.(No paywall)
World meat production will decline for the first time in two decades because of the devastating epidemic of African swine fever in China, the world’s largest pork producer, said the UN Food and Agriculture Organization on Thursday.
Global prices for cereal grains, dairy products and vegetable oils fell during September, pulling the Food Price Index to its lowest reading in at least a year, said the UN Food and Agriculture Organization. Corn prices dropped by more than 4 percent, "mostly on expectations of a very large crop in the United States and ample supply prospects globally," said the FAO.
Sharp declines in the dairy and sugar prices, dropping by 6 percent or more in a month, pulled down the monthly Food Price Index to its lowest level this year, said the UN Food and Agriculture Organization. The index, which measures international prices for a basket of commodities, had been rising steadily until June.