Monthly price decreases seen for sugar, meat, cereals (Il Sole 24 Ore Radiocor) - Rome , 06 Sep - In August, global food prices "declined marginally" compared with July and were down 1.1% according to the latest monthly food price index from the Food and Agricultural Organization of the United Nations (UN).

Decreases in quotations for sugar, meat and cereals outweighed increases in those for vegetable oils and dairy products.

Sugar prices fell by 4.7% in August compared to July, reaching their lowest level since October 2022. The decrease was attributed to improved production outlooks for upcoming sugarcane harvests in India and Thailand, along with lower international crude oil prices. The drop came despite a sharp increase in prices in late August, amid concerns about the impacts of fires on sugarcane fields in Brazil.

The meat price index declined by 0.7% compared to July, as poultry, pig, and ovine meat prices all fell amid lackluster import demand, although world bovine meat prices increased slightly.

The cereal price index decreased by 0.5% from July, driven by lower global wheat export prices amid competitively priced Black Sea supplies and higher-than-expected production in Argentina and the US.

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(RADIOCOR) 06-09-24 12:28:10 (0305) 5 NNNN