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The Food and Agriculture Organization of the United Nations (FAO) reported that the measure of changes in global food commodity prices remained largely stable in November, with declining international prices of cereals, meat, and dairy products offsetting rising quotations for vegetable oils and sugar.

The FAO Food Price Index, which analyzes monthly changes in a basket of frequently traded food items’ international prices, averaged 135.7 points in November, a little less than it did in October. Only 0.3 percent have been added to the Index since November 2021.

Despite a 1.3 percent decrease from the previous month, the FAO Cereal Price Index was still up 6.3 percent from a year ago.

The extension of the Black Sea Grain Initiative contributed to a decrease of 2.8% and 1.7%, respectively, in the price of wheat and maize globally in November. In contrast, there was a 2.3 percent increase in global rice prices.

Following seven months of fall, the FAO Vegetable Oil Price Index climbed by 2.3 percent in November. Prices for rapeseed and sunflower oils fell while those for palm and soy oils increased internationally.

The FAO Dairy Price Index fell by 1.2 percent since October. While butter, skim, and whole milk powder world quotes down due to a decline in import demand, those for cheese rose as a result of less brisk export availability from major Western European cheese-producing nations.

International bovine meat prices declined in November despite China’s persistently high import demand as increasing export supplies from Australia added to already-high supplies from Brazil. This was reflected in a 0.9 percent decrease in the FAO Meat Price Index compared to the previous month.

In contrast, all other meat kinds saw a rise in global prices, driven primarily by increased prices for beef.

Due to robust buying amid limited global sugar supplies as a result of harvest delays in important producing countries and India’s declaration of a lower sugar export quota, the FAO Sugar Price Index increased by 5.2 percent in November. Brazilian ethanol price increases pushed up global sugar prices as well.

You may find more information here. Please visit the FAO’s Food Price Monitoring and Analysis (FPMA) Tool to acquire benchmark export quotations for various foodstuffs as well as national retail/wholesale prices of foods.

The FAO again reduced its estimate for global grain production in 2022, which is now 2 756 million tonnes, a 2.0% decrease from 2021, in the most recent Cereal Supply and Demand Brief.

The decrease is largely attributable to Ukraine’s low maize production prospects, where the crisis’ effects have made post-harvesting procedures prohibitively expensive.

Despite this reduction, the latest estimate of 781.2 million tonnes of wheat would still be a record high according to the FAO. Global rice production is anticipated to decline by 2.4 percent from its record high from the previous year.

The planting of the winter wheat crop for 2023 has already begun, despite worries about the cost of important agricultural inputs and unfavorable weather in the United States of America and the Russian Federation. However, high crop prices may assist to maintain an above-average area globally.

Crops of coarse grains are being sown throughout the southern hemisphere, and official projections in Brazil indicate that a record amount of acreage will be planted for maize.

Here you can find further information as well as revised predictions for the global consumption of cereals in the 2022–2023 growing season, for the global grain stockpiles at the end of the harvest in 2023, and for the global trade in cereals.

According to the most recent Crop Prospects and Food Situation report, published quarterly by FAO’s Global Information and Early Warning System, 45 countries around the world, including 33 in Africa, 9 in Asia, 2 in Latin America and the Caribbean, and 1 in Europe, are assessed to need external assistance for food due to conflicts, extreme weather events, and skyrocketing inflation rates (GIEWS).

Particularly concerning are the levels of food insecurity in some East African and West African nations.

The total cereal import requirement is expected to be 63.7 million tonnes in 2022, up 7% from the previous five-year average, while the 2022 cereal output for low-income countries with food deficits is predicted to be 184.5 million tonnes, in line with the previous five-year average.

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