Fao Food Price Index Dips Again In April

    Global food commodity prices fell in April amid expectations of ongoing robust supplies of many key staples. The FAO Food Price Index averaged 168 points in April, down 1.8% from March although remaining 10% higher than a year earlier. The Sugar Price Index led the decline, dropping 9.1% on the month as large export supplies from Brazil met with continued weak global import demand. The FAO Vegetable Oil Price Index fell 3.9% on the month, pushed down by weakening demand for palm oil and expectations of bumper soy harvests and plantings in South and North America. The Cereal Price Index also shed 1.2% in April, pushed down by sagging wheat prices even as international rice prices firmed. The Dairy Price Index fell 3.3% as production in the northern hemisphere entered peak season, allying short-term sourcing concern. 

    FAO updated its global cereal production forecasts for 2017, which now point to a likely 0.4% annual decline from 2016 even as the pace of utilization grows by around 1%. The net result of the new projections, released with the Cereal Supply and Demand Brief, would be a drop in the cereal stocks-to-use ratio in 2017/18 to 25.8%, still a comfortably high figure in historical terms but slightly below the current season's level. Projected global rice output remained stable at 506 million tons, while the forecast for wheat - 740 million tons - was also unchanged as expected smaller crops in Australia, Canada, the Russian Federation and the United States are offset by likely expansions in the European Union, India and Morocco.

    The June / July’s issue of the Middle East Food (MEF) magazine covers the latest in the Middle East & North Africa (MENA) food industry, including new innovations, projects and events. On page 07, we tackle growth in the MENA’s packaging market. The article on page 23 sheds light on the MENA’s condiment & sauces market performance. Moreover, on page 35, Germany leads the F&B retail market in Europe. Additional stories are also available, covering the latest activities of regional manufacturers, importers and exporters, so enjoy reading and send us your feedback at content@cphworldmedia.com

    Fathi Chatila