The latest FAO Food Price Index, released Thursday, continued to fall in September, down 2.3 points below August and a full 11 points from the beginning of the year. This marks the fifth consecutive decrease.
The Cereals Price Index dropped 12.9 points from August and as much as 65 points from September 2012. The decline reflects a favorable supply outlook, particularly for maize and rice. The Oils/Fats Price Index remained unchanged from August. The Dairy, Meat, and Sugar Indices all rose slightly in September.
AMIS also released its latest Market Monitor on Thursday. The report still cites a balanced supply-demand situation for 2013-2014 despite downward revisions for September cereals production prospects. The report also cautions that climate and weather risks could pose a challenge to harvests in the second half of the year.