{"id":7741,"date":"2023-09-08T09:42:33","date_gmt":"2023-09-08T09:42:33","guid":{"rendered":"https:\/\/ricenewstoday.com\/dev\/?p=7741"},"modified":"2023-09-08T09:42:51","modified_gmt":"2023-09-08T09:42:51","slug":"world-food-price-index-back-at-two-year-low-despite-rice-surge-fao","status":"publish","type":"post","link":"https:\/\/ricenewstoday.com\/dev\/world-food-price-index-back-at-two-year-low-despite-rice-surge-fao\/","title":{"rendered":"World food price index back at two-year low despite rice surge: FAO"},"content":{"rendered":"\n<figure class=\"wp-block-image size-full\"><img fetchpriority=\"high\" decoding=\"async\" width=\"1000\" height=\"667\" src=\"https:\/\/ricenewstoday.com\/dev\/wp-content\/uploads\/2023\/09\/image-35.png\" alt=\"\" class=\"wp-image-7742\" srcset=\"https:\/\/ricenewstoday.com\/dev\/wp-content\/uploads\/2023\/09\/image-35.png 1000w, https:\/\/ricenewstoday.com\/dev\/wp-content\/uploads\/2023\/09\/image-35-600x400.png 600w, https:\/\/ricenewstoday.com\/dev\/wp-content\/uploads\/2023\/09\/image-35-300x200.png 300w, https:\/\/ricenewstoday.com\/dev\/wp-content\/uploads\/2023\/09\/image-35-768x512.png 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><\/figure>\n\n\n\n<p><strong>PARIS: The United Nations food agency\u2019s world price index fell in August to a new two-year low, reversing a rebound seen the previous month, as a decline in most food commodities offset increases for rice and sugar.<\/strong><\/p>\n\n\n\n<p>The Food and Agriculture Organization\u2019s (FAO) price index, which tracks the most globally traded food commodities, averaged 121.4 points in August against a revised 124.0 for the previous month, the agency said on Friday.<\/p>\n\n\n\n<p>The July reading was initially given as 123.9 in a rebound from a two-year low in June. The August figure was the lowest since March 2021 and also 24% below an all-time high reached in March 2022 in the wake of Russia\u2019s invasion of Ukraine.<\/p>\n\n\n\n<p>The drop in the overall index reflected declines for dairy products, vegetable oils, meat and cereals, despite a jump in FAO\u2019s rice benchmark to a 15-year high following Indian export restrictions, the agency said.<\/p>\n\n\n\n<p>FAO\u2019s cereal index edged down 0.7% from July as wheat prices fell in the face of northern hemisphere harvests while maize (corn) fell for a seventh straight month to a near three-year low, pressured by a record Brazilian crop and the approaching US harvest, it said.<\/p>\n\n\n\n<p>In contrast, the agency\u2019s rice index surged by almost 10% month-on-month as India\u2019s decision in July to ban Indica white rice exports disrupted trade at a time of tight availabilities ahead of new-crop harvests, FAO said.<\/p>\n\n\n\n<p>FAO\u2019s sugar index rose 1.3% month-on-month in August, putting it 34% above the year-earlier level, supported by concerns about impact of the El Nino weather pattern on global production.<\/p>\n\n\n\n<p>Vegetable oil prices were down 3.1% in August, while dairy prices slipped 4%, an eighth straight monthly drop that reflected ample supply in Oceania and slower Chinese imports.<\/p>\n\n\n\n<p>In a separate report on cereal supply and demand, the FAO forecast world cereal production this year at 2.815 billion tonnes, down slightly from a previous estimate of 2.819 billion.<\/p>\n\n\n\n<p>The latest forecast was nonetheless up 0.9% on 2022 and matched record output from 2021, the FAO said.<\/p>\n\n\n\n<p>The downward revision mainly reflected a cut to projected wheat output as dry weather affected Canada and the European Union and heavy rain affected Chinese crops, FAO said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>PARIS: The United Nations food agency\u2019s world price index fell in August to a new two-year low, reversing a rebound seen the previous month, as a decline in most food commodities offset increases for rice and sugar. The Food and Agriculture Organization\u2019s (FAO) price index, which tracks the most globally traded food commodities, averaged 121.4 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":7742,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[176],"tags":[46,159],"class_list":["post-7741","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-asian-rice","tag-global-rice-news"],"acf":{"enable_premium_overlay":false},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>World food price index back at two-year low despite rice surge: FAO - Rice News Today<\/title>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"World food price index back at two-year low despite rice surge: FAO - Rice News Today\" \/>\n<meta property=\"og:description\" content=\"PARIS: The United Nations food agency\u2019s world price index fell in August to a new two-year low, reversing a rebound seen the previous month, as a decline in most food commodities offset increases for rice and sugar. 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