World meals commodity costs fell for a second consecutive month in October, pushed largely by ample international provides, the United Nations’ Meals and Agriculture Organisation has mentioned.
The FAO Meals Worth Index, which tracks a basket of worldwide traded meals commodities, averaged 126.4 factors in October, down from a revised 128.5 in September.
The index was down barely in comparison with its October 2024 degree and stood 21.1% under its March 2022 peak.
It had climbed to a two-year peak in July earlier than stabilising in August and dropping in September thanks largely to sugar value falls.
Commodities
The FAO’s sugar index fell once more in October, dropping 5.3% to its lowest since December 2020, amid sturdy output in Brazil, anticipated output progress in Thailand and India, and decrease crude oil costs.
The dairy value index additionally fell, slumping 3.4% from September due to weaker milk powder quotations and decrease butter costs, which dropped as a consequence of ample export availability from the European Union and New Zealand.
The meat index eased 2% in October after eight month-to-month positive factors, with pig and poultry costs dropping sharply, however bovine costs persevering with to move increased due to sturdy international demand.
Vegetable oils rose 0.9%, reaching their highest since July 2022.
In a separate report, the FAO forecast 2025 world cereal manufacturing at a file 2.990 billion metric tonnes, after projecting 2.971 billion tonnes final month.
The most recent outlook was up 4.4% from 2024 output, with all main cereals anticipated to rise and each maize and rice output set to hit file highs.
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