TURKISH AGRI.NEWS

Press release... 5 March 2020, Rome - World food prices declined in February for the first time in four months due to a sharp fall in the export prices of vegetable oils, partly driven by fears that the coronavirus ( COVID-19 ) outbreak will slow global demand. The FAO Food Price Index , which tracks monthly changes in the international prices of commonly-traded food commodities, averaged 180.5 points in February, down 1.0 percent from the previous month but still 8.1 percent higher than a year earlier. The FAO Vegetable Oil Index declined 10.3 percent from January, with international palm oil prices falling by even more on account of higher-than-expected output in Malaysia, a temporary drop in India's import demand and concerns over the spread of COVID-19. The FAO Cereal Price Index declined 0.9 percent in February. Wheat prices were lower, reflecting well-supplied markets, while maize prices retreated as demand from the livestock feed sector dipped amid expectations of a wea...

World food prices recorded the 26-month high in November, according to the UN Food and Agriculture Organization (FAO) Thursday. Averaging at 177.2 points last month, the FAO Food Price Index saw a surge of 2.7% or 4.7 points from a month earlier. Significant jumps in the prices of meat products and vegetable oils pushed the overall figure to highest level since September 2017. The FAO Food Price Index is a trade-weighted index that tracks international market prices of five major food commodity groups. The vegetable price index soared 10% month-on-month in November to hit the highest level since May 2018, as palm oil price quotations rose amid robust global import demand. The FAO meat price index saw its largest month-on-month increase in more than a decade, rising 4.6%. "Price quotations for all types of meat represented in the Index firmed, with those of bovine and ovine rising the most, reflecting tight export availabilities against persistent strong import demand...