FAO Food Price Index drops by 3 points
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WASHINGTON, Dec. 6, 2012- The FAO Food Price Index averaged 211 points in November 2012, down 3 points (1.5 percent) from October and the lowest since June 2012, FAO said today. Except for dairy, international prices of all the commodity groups included in the Index fell in November, with sugar undergoing the sharpest dip, followed by oils and cereals. The decline puts the November index value nearly 3 percent below one year ago.
The report is available at: http://www.fao.org/worldfoodsituation/wfs-home/en/
Crop Prospects report shows tightening wheat and maize supplies
The FAO also published its Crop Prospects and Food Situation report today. Firmer production estimates for 2012 confirm tightening wheat and maize supplies while the outlook for rice remains positive. In spite of a contraction in overall cereal utilization in 2012/13, the world cereal stock-to-use ratio is projected to decline by 2 percentage points from the previous season.
Early prospects for the Northern Hemisphere winter wheat crops for harvest in 2013 are mixed: growing conditions in the EU are generally favorable but dry weather is adversely affecting emergence and crop establishment in key producing areas of the United States and the Russian Federation.
The report is available at:
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