The Food and Agriculture Organization’s (FAO) food price index, which measures monthly changes for a basket of cereals, oilseeds, dairy products, meat and sugar, averaged 173.7 points last month, down 1.3 percent from May.
“Most markets have generally taken-on a weaker tone recently largely because of rising tensions in international trade relations,” FAO said in a statement.
FAO said global cereals output in 2018 was seen at 2.586 billion tonnes, down 64.5 million tonnes, or 2.4 percent, from 2017’s record production level.
“The year-on-year decrease mostly reflects anticipated reduced maize output,” FAO said.
Published in Daily Times, July 6th 2018.
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