The index of world food prices
declined again in September, the sixth monthly decline in a row.
It’s now at 191.5 points, the lowest
since 2010.
Meat prices, however, have increased
to the highest levels since 1990. Beef prices are up, but pork prices have
started to decline.
“Sugar and dairy weakened the most,
followed by cereals and oils,” the Food and Agriculture Organization (FAO) of
the United Nations wrote.
“Among the underlying factors, the
U.S. dollar’s broad appreciation continued to weigh on all international
commodity prices.”
For September, the index was six per
cent lower than a year ago; the monthly figures have been lower than the same
month a year earlier for 15 months in a row, the longest persistent decline
since June, 2000.
A gauge of dairy prices dropped 6.5
percent from August, with all products in the index falling, particularly
skimmed milk power, the FAO said.
New Zealand and Australia had more to export
and Europe switched from cheese to butter and skim milk powders after sales to
Russia were blocked.
The grain price index fell 2.5
percent to 177.9 points, with “good production” and large quantities available
for export weighing on prices for wheat and corn, according to the UN agency.
An index of vegetable oil prices
declined by 2.8 percent to 162 points in September amid an outlook for ample
palm-oil production in Southeast Asia and better-than-expected soybean yields
in the U.S.
Sugar prices declined 6.6 percent to
about 228 points as world production is expected to exceed consumption.
A gauge of meat costs rose to 207.8
points, led by export prices for Australian beef.
Prices for pork are falling as
production recovers from disease, the FAO wrote.
