The FAO Meals Value Index averaged 128.3 factors in April
2 Could 2025
2 minute learn
World meals commodity costs elevated in April, pushed by larger cereal, meat and dairy product costs that outweighed falls in sugar and vegetable oils, Reuters reported, citing the United Nations’ Meals and Agriculture Group on Friday.
The FAO Meals Value Index, which tracks month-to-month adjustments in a basket of internationally traded meals commodities, averaged 128.3 factors in April, up 1% versus the March estimate of 127.1 factors.
The April studying was additionally 7.6% larger than the identical month a yr in the past however 19.9% beneath a March 2022 peak reached following Russia’s full-scale invasion of Ukraine.
For cereals, FAO’s value index rose 1.2% from March as wheat costs edged up resulting from tighter exports from Russia, rice rose on stronger demand and corn shares tightened in america.
“Foreign money fluctuations influenced value actions in world markets, whereas tariff coverage changes raised market uncertainty,” the FAO added.
Regardless of the April rise, the cereal value index was 0.5% beneath its yr earlier degree.
Additionally driving meals costs larger, the FAO’s meat value index rose 3.2% final month, led by pig meat costs and agency import demand for bovine meat.
The dairy value index rose 2.4% in April and jumped 22.9% versus a yr in the past as butter costs hit file highs due to declining inventories in Europe.
Against this, FAO’s vegetable value index fell 2.3% final month resulting from a pointy decline in palm oil costs, whereas the sugar value index dropped 3.5% on fears over the unsure world financial outlook.
In a separate cereal report, FAO stored its forecast for world wheat manufacturing unchanged at 795 million metric tons, on par with 2024 ranges.
The company decreased its estimate barely for world cereal manufacturing in 2024 to 4.848 billion tons from 2.849 billion.
