This month’s FAO Food Price Index is out. The index measures the monthly change in the price of food commodities around the globe. Where do global food prices stand, and which categories saw the largest gains?
The FAO Food Prince Index for October was down 0.5 percent from September, and almost 11 percent below this time last year.
Most categories were down, following a recent trend that started about a year ago. This comes with declines in sugar, cereals, vegetable oils, and meat.
Here are some key takeaways from this month’s report:
- Dairy saw an increase, up 2.2 percent, but still around 20 percent off a year ago.
- The cereal price index was down one percent.
- Vegetable oil was down to 0.7.
- Meat was down 0.6 percent, and sugar fell 2.2 percent.
Related Stories
The government shutdown has touched nearly every sector of the ag industry since it began, and now impacts are spilling over into dairy.
The new antitrust agreement between the Department of Justice (DOJ) and the U.S. Department of Agriculture (USDA) aims to enforce antitrust laws and monitor market activity across the ag sector.
In the meantime, Senate Majority Leader John Thune is asking that farmers be allowed to use marketing assistance loans to help stay afloat.
