POST Online Media Lite Edition



 

FAO Food Price Index eases in April

Christian Fernsby |
World food commodity prices decreased in April after a large jump the previous month, led by modest declines in the prices of vegetable oils and cereals, the Food and Agriculture Organization of the United Nations (FAO) reported.

Article continues below




The FAO Food Price Index averaged 158.5 points in April 2022, down 0.8 percent from the all-time high reached in March. The Index, which tracks monthly changes in the international prices of a basket of commonly-traded food commodities, remained 29.8 percent higher than in April 2021.

The FAO Vegetable Oil Price Index decreased by 5.7 percent in April, shedding almost a third of the increase registered in March, as demand rationing pushed down prices for palm, sunflower and soy oils. Uncertainties about export availabilities out of Indonesia, the world’s leading palm oil exporter, contained further declines in international prices.

“The small decrease in the index is a welcome relief, particularly for low-income food-deficit countries, but still food prices remain close to their recent highs, reflecting persistent market tightness and posing a challenge to global food security for the most vulnerable,” said FAO Chief Economist Máximo Torero Cullen.

The FAO Cereal Price Index declined by 0.7 points in April, nudged down by a 3.0 percent decline in world maize prices. International wheat prices, strongly affected by continued blockage of ports in Ukraine and concerns over crop conditions in the United States of America but tempered by larger shipments from India and higher-than-expected exports from the Russian Federation, increased by 0.2 percent. International rice prices increased by 2.3 percent from their March levels, buoyed by strong demand from China and the Near East.

Meanwhile, the FAO Sugar Price Index increased by 3.3 percent, buoyed by higher ethanol prices and concerns over the slow start of the 2022 harvest in Brazil, the world’s largest sugar exporter.

The FAO Meat Price Index increased by 2.2 percent from the previous month, setting a new record high, as prices rose for poultry, big and bovine meat. Poultry meat prices were affected by disruptions to exports from Ukraine and rising avian influenza outbreaks in the Northern hemisphere. By contrast, ovine meat prices averaged marginally lower.

The FAO Dairy Price Index also was up, by 0.9 percent, on the back of persistent global supply tightness as milk output in Western Europe and Oceania continued to track below their seasonal levels. World butter prices rose the most, influenced by a surge in demand associated with the current shortage of sunflower oil and margarine.

FAO also released a new Cereal Supply and Demand Brief with updated forecasts pointing to a likely 1.2 percent decline in world trade in cereals in the 2021/22 marketing year (July/June) compared to the previous year.

The decline is associated with maize and other coarse grains, while trade volumes for rice are predicted to grow by 3.8 percent and that for wheat by 1.0 percent.

With almost all crops harvested for the 2020/21 cycle, FAO pegs the world cereal production at 2 799 million tonnes, an 0.8 percent increase from the 2019/20 outturn.

World cereal utilization for the 2021/22 period is projected to increase by 0.9 percent from the previous year to 2 785 million tonnes.

FAO’s new estimate for world cereal stocks by the close of seasons in 2022 now stands at 856 million tonnes, 2.8 percent above opening levels, led by a build-up in maize inventories partly due to suspended exports from Ukraine. If confirmed, the global cereal stocks-to-use ratio would end the period unchanged at a “relatively comfortable supply level” of 29.9 percent, according to FAO.

FAO still predicts global wheat production to grow in 2022, to 782 million tonnes. That forecast incorporates an expected 20 percent decline in harvested area in Ukraine as well as drought-driven output declines in Morocco.

For coarse grains, the Brief indicates that Brazil is on course to harvest a record maize crop of 116 million tonnes in 2022, while weather conditions are likely to dent maize output in Argentina and South Africa. Initial planting surveys indicate that maize acreage in the United States of America is likely to decline by 4 percent, amid concerns over the high costs of fertilizers and other inputs.


What to read next

FAO Food Price Index starts 2016 dropping to nearly 7-year low
FAO Food Price Index declines in June for first time in 2018
Global food prices decline in March

U.S.: Areas of excessive rainfall and severe thunderstorm potential today

 
A pair of slow moving storm systems are responsible for prolonged periods of heavy rain and thunderstorms in the Southeast and the Northeast.
 
 

Latest

Baker Hughes: U.S. oil rig count down by 5 to 474
LEGO Group will create 305 new jobs in Prince George County, Virginia
PPG will establish Cleveland County manufacturing center creating 110 jobs
World's first vaccines that don't need refrigeration entered trials

NEWS

Captain of Hong Kong ship charged with damage to Baltic gas pipeline

U.S.: Strong to severe thunderstorms from Southern Plains to Ohio Valley
U.S.: Severe thunderstorms, heavy rain and fire threat
Peru court jails ex-President Humala for money laundering
Bosnia risks air traffic shutdown over unpaid debt
Active weather in Eastern U.S.; warm weather and critical fire weather across portions of West
 

BUSINESS

U.S. rig count drops for first time in three weeks

Azerbaijan seeks investor to build bitumen materials plant
Baker Hughes: U.S. oil rig count up by 2 to 483
Domestic tourism spending in Britain falls by £3bn, analysis reveals
IMF approves $20 billion extended arrangement for Argentina
Bangladesh, Japan sign construction deal for Matarbari deep seaport
 

Trending Now

Mission to "weigh" all of Earth's forests from space launched

Spain unveils plan for Europe's largest hydrogen pipeline network

Government and MBS Global Investments to create Maldives International Financial Centre

Skechers agrees to be acquired by 3G Capital


POLITICS

Commission: Sweden failing to fulfil its obligations under EU maritime security acquis

European Parliament approved wide framework for screening of foreign direct investments
Government and MBS Global Investments to create Maldives International Financial Centre
Greece and Egypt reaffirm plans for 1,000-kilometre undersea power cable
Czech government buys 80% stake in Dukovany II power plant
Punjab to launch Air Punjab and Pakistan's first bullet train
 

Today We Recommend

Government and MBS Global Investments to create Maldives International Financial Centre


Highlights 

LEGO Group will create 305 new jobs in Prince George County, Virginia

PPG will establish Cleveland County manufacturing center creating 110 jobs

Skechers agrees to be acquired by 3G Capital


COMPANIES

Disney announces Abu Dhabi theme park and resort

Skechers agrees to be acquired by 3G Capital
Incat unveils world’s largest battery-electric vessel
Spain unveils plan for Europe's largest hydrogen pipeline network
Rolls-Royce and Turkish Technic to establish world-leading aero engine maintenance facility
543 new jobs to be created in Wayne, Bay Counties, Michigan
 

CAREERS

Jetcraft appoints Philip Baer as sales director in U.S.

Pere Mañé appointed as new CEO of Suanfarma
Ben Söderling new CEO of Sovellusmestarit Oy and MoveRoll Oy
Helio Fujita joins Mars as global people & organization VP for petcare business
Cold Summit appoints Harld Peters as president of Cold Summit Europe
Royal Van Leeuwen chairman Peter Rietberg stepped down
 

ECONOMY

California is now world’s 4th-largest economy

Thailand's exports jump 17.8 pct to 3-year high in March
Turkish exports hit second highest March figure on record
EU hourly labour costs ranged from €11 to €55 in 2024
U.S. consumer confidence dropped sharply in February
EU records trade surplus for 6 quarters in a row
 

EARNINGS

Ericsson Q2 sales down but North America up

Lockton revenue $3.55 billion
Motorcar Parts of America Q4 sales $189.5 million
Limoneira Q2 revenue $44.6 million
Lululemon athletica Q1 revenue increased 10% to $2.2 billion
PVH Q1 GAAP EBIT $205 million
 

OP-ED

Micromanaging is the worst enemy of efficiency and teamwork

Niger set to monetize massive gas reserves through Saharan natural gas pipeline
Putting the brakes on EV folly that choked the market
Oil discovery in Kavango Basin may mean huge benefits for Namibians
Cape Town and Dubai battle over Africa's energy future
Is America going to lose its superpower status?
 

AGRIFISH

Minister István Nagy: FMD immunity can be announced on May 30

£50 million equipment and technology grants to boost food production, farm profitability
Philippines approves beef supplies from Russia
Hong Kong: Import of poultry meat and products from areas in U.S. suspended
U.S.-Mexico reach agreement on screwworm
Tanzania bans agricultural imports from South Africa and Malawi
 

LEADERSHIP

Study: Missing a deadline has a bigger impact than you might think

Employers prefer younger job candidates for AI roles although experienced workers perform same or better
Study finds workers misjudge wage markets
Some organizations may need to expand their hierarchical structures earlier than others
Study finds there's right way and wrong way to deliver negative feedback in workplace
Allyship is critical and its needs appreciation
 

CRIME

EU fines carmakers €458 million for anti-recycling cartel

Commission fines Pierre Cardin and its licensee Ahlers €5.7 million for restricting cross-border sales of clothing
BHP, Vale agree to pay $30B damages for Brazil dam disaster
Commission fines České dráhy and Österreichische Bundesbahnen €48.7 million over collusion to exclude common compe
SEC charges Keurig with making inaccurate statements regarding recyclability of K-Cup beverage pod
SEC charges John Deere with FCPA violations for subsidiary’s role in Thai bribery scheme
 

Magazine

TRAVEL

Radisson Hotel Group debuts in the heart of Tunisia’s capital city, Tunis

Morocco’s first Radisson branded hotel opens in Casablanca
Buna channels, an unreal and beautiful part of Bosnia and Herzegovina
JW Marriott unveils Mindful Haven with opening of JW Marriott Hotel Nairobi
Sotheby's Sports Week returns with fantastic artifacts
Red Roof properties open in Michigan
 

SEA, LAND, AIR

Citroën C3 Aircross, the most affordable compact SUV with 7 seats

2025 Chevrolet Equinox stands apart with fresh looks and capability
Hill Helicopters HX50, luxury in the sky
Opel Movano becomes fully equipped camper van
Porsche Panamera, new hybrid variants
Dodge Charger, 670 horsepower of electric
 

DESIGN

Cold night, hot fire pit, cool entertainment

Embellish your home with PVC panels
You'll have to hurry if you want one of 20 new Louis Vuitton watches
Luxury duvet looks good, fells good and keeps you healthy
Vacheron Constantin, watches for life and more
Schüller kitchens, where functionality marries design
 

GADGETS

MESA/Boogie Celebrates 40-year partnership with John Petrucci

reMarkable 2, monochrome tablet for your thoughts and your eyes
OnePlus Ace 3V, first with Snapdragon 7 Plus Gen 3
ASUS Zenfone 11 Ultra, flagship with a reason
Samsung Galaxy S24 is photography powerhouse
Casette tapes are making a big comeback, and so are portable players
 

HEALTH

First patient enrolled in Phase 1 clinical trial of Akiram’s cancer drug candidate

FDA grants marketing authorization of first home test for chlamydia, gonorrhea and trichomoniasis
Human cases of anthrax reported in western Mongolia
One more barrier to developing vaccine for HIV removed
Rwanda begins world's first clinical trial for treatment of Marburg virus disease
Rwanda restricts gatherings amid Marburg virus outbreak, to begin trials of vaccine
 

MEANTIME

Mission to "weigh" all of Earth's forests from space launched

NASA's SPHEREx space telescope begins mapping entire sky
Russian academics, gas industry experts see undersea LNG transportation as feasible
India launches space docking experiment mission
World-first carbon-14 diamond battery made
Einstein Telescope step closer