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FAO Food Price Index Unchanged in November
The latest FAO Food Price Index was released yesterday, remaining virtually unchanged from October at 206.3 points. The Index is 4.4 percent below its November 2012 level.
The Cereals Index dropped two points in November, and is a full 24 percent lower than it was in November 2012. This year's record cereals crop is the main driver of this reduction in cereals prices, particularly for wheat, maize, and rice.
FEWS Net Monthly Price Watch Released
The latest FEWS Net Monthly Price Watch was released yesterday. The report sees declines in the majority of international prices, with the exception of soybeans.
FEWS Net Monthly Price Watch Sees Declining Maize, Wheat Prices
The latest FEWS Net Monthly Price Watch was released today, reporting considerable declines in the price of wheat and maize in the past few months. Between June and August, monthly average international maize prices dropped significantly due to improved harvest prospects in the United States; current harvest prospects suggest that prices may drop even further in the coming months. Global maize stocks are also projected to rise to their highest levels in nearly a decade.
Global Food Prices Continue to Fall in August
The latest FAO Food Price Index, released last week, fell nearly four points from July and nearly 11 points from August 2012. This was the fourth consecutive month in which global food prices dropped.
The Cereals Price Index declined by 16.4 points from July, and fell a whopping 49.4 points from August of last year. Strong growth in global cereal production, along with a significant recovery of global maize supplies, is behind this substantial drop. The Oils/Fats Price Index also fell by 5.7 points from July, the third consecutive drop.
Food Prices Drop for Third Month in a Row
The latest FAO Food Price Index was released yesterday, and is down four points from June and seven points from a year ago. This is the third consecutive monthly drop and is due in large part to lower grain, soy, and oil prices.
The Cereal Price Index dropped in July by 8.8 points, down nearly 33 points from July 2012. This sharp drop was driven mainly by maize prices, which fell on favorable weather and production prospects in several major producers. Wheat prices also declined in July, but that decline was limited by increased export demand.