Title: FAO Food Outlook
Headings: FAO Food Outlook
FAO Food Outlook
Content: FAO Food Outlook
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FAO Food Outlook
FAO Food Outlook
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Created: Monday, 01 August 2011 00:00
FAO's Food Price Index rose one percent to 234 points in June 2011 - 39 percent higher than in June 2010 but four percent below its all-time high of 238 points in February of this year. A strong rise in international sugar prices was behind much of the increase. The FAO Cereal Price index averaged 259 points in June, down one percent from May but 71 percent higher than in June 2010. Improved weather conditions in Europe and the announced lifting of the Russian Federation's export ban contributed to the price drop. However the maize market remained tight because of low 2010 supplies and continued wet conditions in the United States. Prices of rice were mostly up in June, reflecting strong import demand and uncertainty over export prices in Thailand, the world's largest rice exporter. The FAO Sugar Price Index rose 14 percent from May to June, reaching 359 points, 15 percent below its January record. Production in Brazil, the world's biggest sugar producer, is forecast to fall below last year's level. The FAO Dairy price Index averaged 232 points in June, virtually unchanged from 231 points in May. The FAO Meat Price Index averaged 180, marginally up from May with poultry meat rising three percent and climbing to a new record, while pig meat prices declined somewhat.