Connect with us

Hi, what are you looking for?

Financial Advisors

World food price index rises in June, first increase in 2020: U.N.

imageStock Markets9 hours ago (Jul 02, 2020 04:45AM ET)

(C) Reuters.

ROME (Reuters) – World food prices rose in June to post their first increase of 2020 and mark a slight rebound after the sharp falls triggered by the coronavirus pandemic, the United Nations food agency said on Thursday.

The Food and Agriculture Organization (FAO) food priceindex, which measures monthly changes for a basket of cereals, oilseeds, dairy products, meat and sugar, averaged 93.2 points last month, up 2.4% on May.

FAO said it had rebased all its indices, shifting the base period to 2014-16 from a previous 2002-04.

Amid continued market uncertainty, the prices of vegetable oils, sugar and dairy products rebounded to multi-month highs following sharp declines in May, while in the cereals and meat indices, most prices remained under downward pressure.

FAO also revised up its forecast for the 2020 cereal season by some 9.3 million tonnes, foreseeing global output of almost 2.790 billion tonnes — a 3.0% increase on 2019’s record harvest. The bulk of the monthly increase reflected an upward revision to Australia’s wheat production estimates.

World food price index rises in June, first increase in 2020: U.N.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!

You May Also Like

When people envision technology overtaking society, many think of The Terminator and bulletproof robots. Or Big Brother in George Orwell’s Nineteen Eighty-Four, a symbol...

Economy

SAN FRANCISCO — The spread of the coronavirus has meant feast or famine for technology start-ups. While many are cutting staff and slashing costs...

Economy

In Wisconsin and Ohio, farmers are dumping thousands of gallons of fresh milk into lagoons and manure pits. An Idaho farmer has dug huge...

News

Planning for retirement can be exciting, but for many, building your nest egg can also seem overwhelming. There are no shortage of ways to...

Disclaimer: Respect Investment.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2020 Respect Investment. All Rights Reserved.