What's New

FAO released the latest Food Price Index today. The report cites slightly higher food prices in September, averaging 216 points. The increase was based mostly on the meat and dairy sectors, with smaller increases in grains. The Index is currently 22 points below its peak of 238 points in February 2011, and nine points below its level of 225 points in September 2011.

FAO has released its Food Price Index for August, citing stabilizing world food prices. The Food Price Index has remained steady since July at 213 points. The report points out that while this level is high, it is still 25 points below the peak seen in February 2011.

The FAO Global Food Price Index averaged 214 points in April, down 3 points from the previous month. Cereals prices aided this decline with a drop of nearly 2 percent from March and 16 percent from April 2011. Maize prices declined on solid production prospects, while wheat and rice prices also fell marginally. Soybean prices, on the other hand, surged on fears of tightening global supplies.

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The FAO Food Price Index for March averages 216 points, virtually unchanged from February's FPI at 215 points. Cereal prices also rose only one point. Low maize inventories and a strong soybean market caused a slight increase in maize prices, but sufficient wheat supplies kept that commodity's prices stable. Overall, only oils/fats prices showed strong growth due to a tightening of the expected 2011/2012 supply and demand balance.

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GIEWS has released the latest Global Food Price Monitor, citing a decline in the FAO Food Price Index for the third straight month. International grains prices fell in September, while the price of rice rose on the global market. Eastern Africa continues to experience cereal prices that are two to four times higher than they were this time last year.

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