Cereal prices down 3.0% mth/mth (Il Sole 24 Ore Radiocor) - Rome, 05 Jul - In June, the FAO cereal price index declined 3.0% versus May, with quotations for coarse grains, wheat and rice all down, driven in part by improved production prospects in major exporting countries, the FAO said The vegetable oil price index, by contrast, rose 3.1% from May, buoyed by reviving global import demand for palm oil and firm demand from the biofuel sector in the Americas for soy and sunflower oils.

Sugar prices increased 1.9% from May after three consecutive monthly declines, due in large part to concerns over the likely impact of adverse weather and monsoons on production in Brazil and India.

The dairy price index rose 1.2%, with international quotations for butter reaching a 24-month high on the back of increased global demand for near-term deliveries amidst strong retail sales, seasonally falling milk deliveries in Western Europe and low inventories in Oceania.

The FAO meat price index was virtually unchanged in June, as slight increases in the world prices of ovine, pig and bovine meats nearly offset a supply-led decline in international poultry meat prices.

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(RADIOCOR) 05-07-24 19:23:28 (0645) 5 NNNN