August 15, 2026 04:36 am (IST)
Follow us:
Global food prices down in May: UN
New York, Jun 6 (IBNS): The United Nations Food and Agriculture Organization (FAO) reported on Thursday that global food prices were down for the second straight month in May and that the outlook for worldwide cereal supply has improved considerably since last month.
FAO’s Food Price Index continued its decline from the 10-month high it experienced in March, the agency said in a news release, noting that prices fell as generally ample supplies weighed on international prices for most commodities included in the Index.
The Index – which measures monthly changes in global prices of a basket of meat, dairy, cereals, oils and fats, and sugar – averaged 207.9 points in May 2014, down 2.5 points from April.
According to FAO, the Index had risen to a ten-month high of 213 points in March, but fell in April and May amid lower dairy, cereal and vegetable oil prices. Sugar prices went against the trend, making strong gains in May, while meat remained firm.
The Cereal Price Index was down 2.4 points in May, as compared to April, with the decline mostly triggered by maize prices, which fell in response to favourable growing conditions and good supply prospects in 2014/15.
Wheat prices, which had contributed to price increases in previous months, partly amid fears of disruptions to trade flows from Ukraine, also fell, while rice prices saw little change.
“We went into May with concerns over unfavourable weather conditions, especially in the US, and geopolitical tensions in the Black Sea region, but towards the second half of May, we began to see lower wheat prices following improved weather conditions and the continuation of regular shipping patterns from the Ukraine,” said FAO Senior Economist Abdolreza Abbassian.
Vegetable oils were down 3.7 per cent from April, reflecting lower quotations of palm, soy and grapeseed oils.
Meanwhile, after a period of limited export supplies and exceptionally high prices in 2013 and early 2014, the market for dairy commodities is undergoing some “adjustment” as the production outlook improves. The Dairy Price Index in May declined 12 points over April.
Meat prices remained nearly unchanged from April, while sugar was up 9.3 points amid early forecasts of a possible production deficit for the 2014/15 season and El Niño-related weather concerns.
FAO’s monthly update on the world cereal market, the Cereal Supply and Demand Brief, puts world cereal production in 2014 at nearly 2,480 million tonnes, almost 1 per cent higher than was reported in May, though still 1.4 per cent down from 2013.
(Photo: UNMISS/James Sokiri)
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
Support objective journalism for a small contribution.
Latest Headlines
HCG Q1 results: Cancer care major posts 190% jump in adjusted profit, revenue rises 13%
Fri, Aug 14 2026
Big relief for Zee Entertainment: SAT allows warrants issue, dividend access despite SEBI ban
Fri, Aug 14 2026
Olectra Greentech Q1 shocker: Revenue soars 66%, profit barely moves; shares crash 4%
Fri, Aug 14 2026
Red Friday on Dalal Street: Sensex plunges 300 points, Nifty slides amid geopolitical tensions
Fri, Aug 14 2026
Tata Motors shares jump 6% after Q1 profit soars 83% to ₹2,560 crore
Thu, Aug 13 2026
RVNL posts strong Q1 numbers, but shares fall sharply
Thu, Aug 13 2026
Profit soars 39%, but Grasim stock crashes 3% after Q1 results
Thu, Aug 13 2026
Sensex plunges 170 points, Nifty nears 24,350 as market takes a hit
Thu, Aug 13 2026