FAO,
Dairy Price Index,
FAO Meat Price
The FAO Food Price Index fell in July. Sharpest monthly drop since December 2017
The FAO Food Price Index(FFPI) averaged 168.8 points in July 2018, down as much as 6.5 points (3.7 percent) from June and 10.3 points (3.7 percent) from the corresponding period last year. The July fall marked the first significant month-on-month decline in the value of the FFPI since December 2017, reflecting notable drops in the values of all sub-indices.
The FAO Dairy Price Index averaged 199.1 points in July, down 14.1 points (6.6 percent) from June. At this level, the index stood at 10.7 percent above January 2018 but still 8 percent below the corresponding month a year ago. International price quotations across all dairy commodities (represented in the Index) fell, with the sharpest falls registered for butter and cheese. Whole Milk Powder (WMP) and Skim Milk Powder (SMP) prices also weakened. Dairy markets have remained under downward pressure, supported by ample export supplies, including good production prospects in New Zealand.
The FAO Meat Price Index averaged 170.7 points in July, down 3.3 points (1.9 percent) from its revised value for June. The June upward revision primarily reflects a sharp rise in bovine meat prices from Brazil, caused by a decline in exports following logistical problems due the prolonged truck drivers’ strike. In July, the Index shed few points, in part due to a gradual normalization of meat exports from Brazil. Overall, price quotations for bovine meat fell, while those of pig and poultry meat also weakened. However, ovine meat prices increased marginally on strong import demand, especially from China and the United States.