Major food commodity prices fell again in may to lowest level in nearly six years, FAO
04.06.2015,
18:04
The world's major food commodity prices fell again in May to the lowest level in nearly six years amid a favorable outlook for this year's harvests, the Food and Agriculture Organization (FAO) said Thursday.
YEREVAN, June 4. / ARKA /. The world's major food commodity prices fell again in May to the lowest level in nearly six years amid a favorable outlook for this year's harvests, the Food and Agriculture Organization (FAO) said Thursday.
The FAO food price index averaged 166.8 points in May, down 1.4 per cent from April and as much as 20.7 per cent from a year earlier, the Rome-based UN agency said in a statement, according to AFP.
It marked the lowest level since September 2009 in the trade-weighted index that tracks prices on international markets of five major food commodity groups: cereals, meat, dairy products, vegetable oils and sugar.
The May decline was due to a 3.8 per cent drop in the cereal price index from a month earlier, a 2.9 per cent drop in the dairy price index and a one per cent drop in the meat price index.
"FAO has also upgraded its May 2015 forecast for global production of wheat, coarse grains and rice, anticipating bigger maize harvests in China and Mexico as well as more abundant wheat harvests in Africa and North America," the statement said.
According to the latest forecasts, global cereal production in 2015 will be 2.524 billion tons, only one per cent below last year's record, "reinforcing the view of generally stable cereal markets," the FAO said.
According to Armenia’s National Statistical Service, annual cereal consumption varies between 650,000 -720,000 tons. Of that amount 435,000-450,000 tons are used for food needs. Imports vary between 380,000-420,000 tons.-0-
The FAO food price index averaged 166.8 points in May, down 1.4 per cent from April and as much as 20.7 per cent from a year earlier, the Rome-based UN agency said in a statement, according to AFP.
It marked the lowest level since September 2009 in the trade-weighted index that tracks prices on international markets of five major food commodity groups: cereals, meat, dairy products, vegetable oils and sugar.
The May decline was due to a 3.8 per cent drop in the cereal price index from a month earlier, a 2.9 per cent drop in the dairy price index and a one per cent drop in the meat price index.
"FAO has also upgraded its May 2015 forecast for global production of wheat, coarse grains and rice, anticipating bigger maize harvests in China and Mexico as well as more abundant wheat harvests in Africa and North America," the statement said.
According to the latest forecasts, global cereal production in 2015 will be 2.524 billion tons, only one per cent below last year's record, "reinforcing the view of generally stable cereal markets," the FAO said.
According to Armenia’s National Statistical Service, annual cereal consumption varies between 650,000 -720,000 tons. Of that amount 435,000-450,000 tons are used for food needs. Imports vary between 380,000-420,000 tons.-0-
