Dairy products rose in price by 1.2% in April -FAO

Источник: The DairyNews
The value of the FAO price index for dairy products increased by 1.2 percent compared to March, reported the press service of the organization to The DairyNews.

At the same time, the prices of butter, cheese and skimmed milk powder increased due to high import demand from Asia.

The FAO also reported that in April, another increase in world food prices was recorded, which continues for the eleventh month; prices for sugar increased most significantly, and prices for grain began to recover.

The average value of the FAO food price index in April was 120.9 points, which is 1.7 percent higher than in March and 30.8 percent higher than in the corresponding period last year. The value of the Index, which tracks monthly fluctuations in global prices for the most popular food products, reached its highest level since 2013, but in nominal terms, it is still 12 percent below its historical high reached in February 2011.

Due to delays in harvesting in Brazil and data on frost damage in France, and the accompanying increase in concerns about a possible reduction in global supply, the value of the FAO price index for sugar for the month increased by 3.9 percent compared to last month, being almost 60 percent higher than in April 2020.

The FAO price index for vegetable oil rose in price by 1.8 percent in April as international prices for palm oil rose amid concerns about slower-than-expected production growth in major exporting countries. In addition, prices for soybean and rapeseed oils increased, while prices for sunflower oil decreased slightly.

The average value of the FAO price index for meat increased by 1.7 percent compared to the March level: the increase in quotations of beef, lamb and pork is due to strong demand in East Asia. At the same time, prices for poultry meat remained at a stable level, which reflects the generally balanced situation on world markets.

The value of the FAO price index for grain rose by 1.2 percent in April, reversing its short-term decline in March, and was 26 percent higher than in April 2020. Smaller-than-expected plans for the sowing campaign in the United States of America (USA) and concerns about the state of crops in Argentina, Brazil and the United States led to corn prices rising by 5.7 percent in April; at this level, they were 66.7 percent higher than a year earlier. International wheat prices generally remained stable, while prices for rice, barley and sorghum declined slightly.

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