Stock market quotes, forex, financial news, forex tools – money-investing.com

UN records increased world prices for food products

 Breaking News
  • Boeing announced the start of massive layoffs The Boeing Company has no choice but to take drastic measures. The world’s largest manufacturer of space and aviation equipment is forced to reduce the number of staff by 13...
  • Serious drawdown of oil quotes Today, oil is actively declining. A very significant increase in the reserves of “black gold” in the United States caused this drop. Moreover, the fears that Russia will not reduce...
  • Swiss watch makers are in crisis Swiss watch exports in April crashed at a record pace the drop has totaled 81% compared with the same period last year. Halting production and difficulties with sales caused by...
  • The intensification of the conflict between the USA and China leads to reduction of oil prices The energy market has started the trading session rather unsuccessfully. The next round of the trade war between the States and China caused the price fall. Because of this investors...
  • Germany saves Lufthansa An air carrier Deutsche Lufthansa AG has suffered losses because of the spread of the coronavirus pandemic. It became known that the German government had not left the matter unattended...
UN records increased world prices for food products
January 09
13:00 2020

The UN Food and Agriculture report says that December food prices have risen to their highest levels in 5 years.

The increased demand for palm oil and sugarcane, used to produce biofuel, caused the growth. The price index of goods in this category is 181 points. This is 2 points higher than the November figure, and the largest mark since 2014.

Last year, the index was equal to 171 points. This is approximately 2% more than in 2018, but a quarter lower than the maximum indicator recorded in 2011.

The dairy price index has grown by more than 3%. The rising cheese prices are the reason for the growth. The prices went up 8% due to lower exports from the EU and Oceania.

The December Grain Index has risen almost 1.5%. Wheat began to grow in price due to increased demand for imports to the PRC, as well as supply problems in France, where protests have been going on for a long time. The cost of corn and rice is the same.

The December meat price index is 190 points. It has not changed much since November.

The price index is an average indicator, the task of which is to control changes in world prices for the 5 main food groups.

 

The material was prepared with the participation of Katya Wilson,
a leading analyst of the brokerage company UFT Group

Related Articles

0 Comments

No Comments Yet!

There are no comments at the moment, do you want to add one?

Write a comment

Write a Comment