Data

The FAO has released the latest version of its Food Price Index . The June Index was almost 2 points below May levels, but remained 11 points higher than in June 2012. The slight decline came mainly from sugar and dairy prices.

The Cereals Price Index also declined slightly by 2.5 points in June on expectations of bumper global crops. Tight coarse grain supplies are expected to continue until harvests in the fall, however, and the Index remains 14 points above its June 2012 level.

The GIEWS Global Food Price Monitor for May was released today, citing a 5 percent rise in global maize prices. The increase in maize prices reflects planting delays in the US caused by cold, wet weather in key growing areas. Wheat export sales also increased in May, adding further upward pressure on prices. Higher maize prices were seen in many low-income countries in LAC due to higher transport costs and reduced outputs.

For the second month in a row, the FAO Food Price Index rose on sharp increases in dairy prices and marginal increases in meat. The Index averaged 215.5 points in April, up 2 points from March. At this level, the Index is only 9 points below its highest level, seen in February 2011.

The FAO Food Price Index rose slightly in March based on higher dairy prices. The Index rose by 1 percent from February, but is still 1.7 percent lower than March of 2012 and nearly 11 percent below its peak in February 2011.

The latest FAO Food Price Index , released last week, was unchanged from January levels, remaining steady at 210 points. This is five points lower than the levels seen in February 2012. The Cereals Price Index and Oils/Fats Price Index remained generally steady as well, experiencing a 1 percent drop and 0.4 percent rise, respectively. The slight decline seen for cereals is due mainly to improved wheat and maize prospects in the US.