World food prices rose in May compared with April 2018, with dairy prices rising sharply, while cereal costs also rose, albeit at a slower pace, the United Nations food agency said on Thursday (7.6.2018).
Pricing
El price index The Food and Agriculture Organization of the United Nations (FAO) food price index, which measures monthly changes for a basket of cereals, oilseeds, dairy products, meat and sugar, averaged 176,2 points last month compared to 174,1 in April.
It was the highest level since October last year. Although the price of dairy products has risenand cereals, the markets of the vegetable oil and sugar fell, FAO said.
PRODUCTION
The agency forecast a production of Wheat output of 754,1 million tons for 2018 and stated that the estimates for Argentina, Canada y United States had risen, while official forecasts of the India They were aiming for higher than expected production there as well.
FAO estimates world cereal production in 2018 at 2.610 billion tonnes, up 3,0 million tonnes from a preliminary projection in May and down 1,5 percent year-on-year.
Source: Reuters
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