Meat worth index declines for seventh consecutive month
5 February 2024
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The United International locations meals company’s global worth index fell in January to its lowest stage in just about 3 years, pushed via declines in cereals and meat, reported Reuters.
The Meals and Agriculture Group’s (FAO) worth index, which tracks probably the most globally traded meals commodities, averaged 118.0 issues in January, down from 119.1 the former month, the company stated on Friday.
The January studying was once the bottom since February 2021.
“World wheat export costs declined in January pushed via sturdy festival amongst exporters and the coming of lately harvested provides within the southern hemisphere nations,” the FAO stated in its per month replace.
The FAO additionally stated maize (corn) costs fell sharply, reflecting progressed crop stipulations and the beginning of the harvest in Argentina and bigger provides in the USA.
The beef worth index declined for the 7th consecutive month as plentiful provides from main exporting nations drove down world costs of poultry, bovine and pig meats, the FAO stated.
In a separate record, the FAO stated global cereal manufacturing in 2023 was once not off course to hit an all-time file prime of two.836 billion metric heaps – up 1.2% from 2022.
World coarse grain output was once pegged at an all-time prime of one.523 billion heaps, following a 12-million-ton upward adjustment this month.
“The majority of the revision displays new respectable knowledge from Canada, China (mainland), Turkey and the U.S., the place a mixture of upper yields and bigger harvested spaces than prior to now anticipated has led to better maize (corn) manufacturing estimates,” the FAO stated.