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Chick-News.com Poultry Industry News, Comments and more by Simon M. Shane

World Food Prices Edging Upwards

02/09/2020

The Food and Agricultural Organization of the UN released the World Food Price Index for January 2019 on February 6th 2020. The index attained 182.5 points up 0.7 percent from December 2019 and 11.3 percent higher than in January 2018. The increase was primarily due to rises in the prices of vegetable oil, sugar, and wheat. The vegetable oil price index increased by 7.0 percent for January with three-year highs for soy, sunflower, and canola oils. This is reflected in the price of both conventional and organic oils incorporated in feed.

 

In contrast to grains, dairy, and sugar that all increased in January, the meat price index declined 4.0 percent. This is enigmatically attributed to decreased consumption in China and other Asian countries due to the emergence of African Swine Fever that has reduced supply. Generally a decline in supply of a commodity results in an escalation in price, as documented for protein in China, and would not be expected to be reflected in a lower index value.

 

Data and comments on the world supply of grains, oil seeds and meat will be incorporated into the February WASDE to be posted mid-month.

 

 

 


 
Copyright 2019 Simon M. Shane