NASHVILLE, TENN. (RFD NEWS) — After five straight months of decline, the FAO Food Price Index, released on Friday morning, shows increases in several areas. The overall index gained just under one percent.
Cereals, meats, and vegetable oils all saw gains, offsetting declines in dairy and sugar. Sugar saw the largest decline at 4.1 percent, hitting the lowest level since October 2020.
The vegetable oil index saw the largest gain, up 3.3 percent on the month.
Cereals gained 1.1 percent while the meat index rose 0.8 percent.
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Egg production accounted for much of the increase.
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For dairy producers, that could help support fluid milk use in cafeterias, breakfast programs, and other child nutrition settings.
Lower wheat production, smaller stocks, and higher projected prices explain the rally and put more attention on Plains crop conditions.
