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Ten years after the launch of AMIS and the Food Security Portal’s Excessive Price Variability Early Warning System, managing and reducing food price volatility remains a clear priority for global food security.
As reported earlier this month, global wheat prices declined slightly in June after 12 straight months of increases. The recent decline was based on favorable production prospects in several major producing regions, including Europe, India, and the Black Sea region. Wheat futures prices followed suit, dropping by 6 percent in June.
The FAO Food Price Index continued to rise in March for the tenth consecutive month. The Index increased 2.1 percent from February, bringing it to its highest value seen since June 2014. The rise was led by increased prices for vegetable oils, meat, and dairy. Cereal prices declined in March.
The FAO Food Price Index remained virtually unchanged in August, although cereal prices rose as a result of declining crop prospects. At 167.6 points, the Index is around 9 percent lower than its August 2017 levels.
Despite a 3.3 percent decline in December, the FAO Food Price Index saw an overall increase for 2017 as a whole. The Index rose 8.2 percent from 2016 to reach the highest annual average seen since 2014. The increase was driven mainly by sharp increases in dairy and meat prices, but international cereal prices also experienced a modest increase in 2017.
The latest editions of the FAO Food Price Index and AMIS Market Monitor are both now available for September. The FAO Food Price Index is a measure of the monthly change in international prices of a basket of five food commodity groups; the monthly AMIS Market Monitor covers the international markets for wheat, rice, maize, and soy and provides an overview of the market situation and outlook for each of these crops.