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
Alan Bjerga with the National Milk Producers Federation joins us to discuss the idea behind the campaign and why accurate labeling on plant-based beverages matters to both consumers and dairy producers.
Adequate transportation capacity exists, but fuel costs and soft river demand could widen basis risk.
Bigger-than-expected corn and wheat stocks are bearish for prices, while soybean figures were neutral. Farmers may face additional price pressure as harvest accelerates.
