{"id":15010,"date":"2015-11-10T11:39:06","date_gmt":"2015-11-10T16:39:06","guid":{"rendered":"http:\/\/panamaadvisoryinternationalgroup.com\/blog\/?p=15010"},"modified":"2015-11-11T11:05:29","modified_gmt":"2015-11-11T16:05:29","slug":"global-food-prices-in-october-2015","status":"publish","type":"post","link":"https:\/\/panamaadvisoryinternationalgroup.com\/blog\/global-food-prices-in-october-2015\/","title":{"rendered":"Global Food Prices in October 2015"},"content":{"rendered":"<p><a href=\"http:\/\/panamaadvisoryinternationalgroup.com\/blog\/wp-content\/uploads\/2015\/11\/supermarket__landscape-850x445.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone  wp-image-15012\" src=\"http:\/\/panamaadvisoryinternationalgroup.com\/blog\/wp-content\/uploads\/2015\/11\/supermarket__landscape-850x445.jpg\" alt=\"supermarket__landscape--850x445\" width=\"769\" height=\"403\" srcset=\"https:\/\/panamaadvisoryinternationalgroup.com\/blog\/wp-content\/uploads\/2015\/11\/supermarket__landscape-850x445.jpg 850w, https:\/\/panamaadvisoryinternationalgroup.com\/blog\/wp-content\/uploads\/2015\/11\/supermarket__landscape-850x445-300x157.jpg 300w\" sizes=\"auto, (max-width: 769px) 100vw, 769px\" \/><\/a><\/p>\n<p>In October, the index of food prices recorded an increase of 4%, driven mainly by rising prices of sugar, vegetable oils and dairy products.<\/p>\n<p>From the report by the Food World Organization:<\/p>\n<p>The FAO Food Price Index* averaged nearly 162 points in October 2015, as much as 6 points (3.9 percent) more than in September and the sharpest increase since July 2012. The October surge was mainly the result of rises in the sugar, vegetable oils and dairy quotations, while cereal prices were subject to a more modest increase and those of meat remained stable. According to the index, food on international markets in October was still 16 percent cheaper than one year ago.<\/p>\n<p>\u00bb The FAO Cereal Price Index averaged 157.4 points in October, up 2.6 points (1.7 percent) from September, largely led by an upturn in wheat and maize prices. Wheat quotations were higher, mostly on concerns about dryness affecting winter wheat in some countries and deteriorating production prospects in Australia. Maize prices strengthened, largely reflecting a slowdown in farmers\u2019 sales in the United States, the world\u2019s biggest producer and exporter of maize. By contrast, rice prices fell, as a result of marked declines in the fragrant and Japonica rice segments.<\/p>\n<p>\u00bb The FAO Vegetable Oil Price Index averaged 142.6 points in October, up 8.4 points (or 6.2 percent) from September. The increase, which follows three months of decline, was primarily driven by higher palm oil prices, as concerns intensified about El Ni\u00f1o compromising next year\u2019s production in Southeast Asia \u2013 in Indonesia in particular. In addition, international soy oil prices strengthened, mainly reflecting slow progress in soybean plantings in parts of Brazil due to unfavourable weather conditions. Limited global availabilities of rape and sunflower seed also lent support to the index.<\/p>\n<p>\u00bb The FAO Dairy Price Index averaged 155.6 points in October, up 13.4 points (9.4 percent) from September. Concerns that milk output in New Zealand would fall during the current June\/May dairy year caused Oceania prices to rise in both September and October, with export prices from the EU following suite \u2013 although remaining below quotations in Oceania. Prices of whole milk powder surged by almost 21 percent over the month, with all the other dairy products also incurring marked increases.<\/p>\n<p>\u00bb The FAO Meat Price Index* averaged 168.8 points in October, essentially the same level as in September, prolonging an extended period of overall stability that has been evident since March 2015. Of the meats covered, only ovine meat registered a substantial change, rising by 8 percent \u2013 due to constrained export availability in Oceania; prices of the other categories of meat were little changed.<\/p>\n<p>\u00bb The FAO Sugar Price Index averaged 197.4 points in October, up 29.0 points (17.2 percent) from September and the highest level since February 2015. The sharp month-on-month increase was largely weather-driven: in Brazil, the world\u00b4s leading sugar producer, delays caused by excessive precipitation in the South-Central producing regions, adversely affected sugarcane harvesting; and reports of crop damages caused by excessive dryness in India, Thailand, the Philippines, South Africa and Vietnam provided further support to international sugar prices.<\/p>\n<p>* Unlike for other commodity groups, most prices utilized in the calculation of the FAO Meat Price Index are not available when the FAO Food Price Index is computed and published; therefore, the value of the Meat Price Index for the most recent months is derived from a mixture of projected and observed prices. This can, at times, require significant revisions in the final value of the FAO Meat Price Index which could in turn influence the value of the FAO Food Price Index.<\/p>\n<p>&nbsp;<\/p>\n<p><strong><a href=\"http:\/\/www.fao.org\/worldfoodsituation\/foodpricesindex\/en\/\" target=\"_blank\">More here<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In October, the index of food prices recorded an increase of 4%, driven mainly by rising prices of<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-15010","post","type-post","status-publish","format-standard","hentry","category-news-articles-panama-perpsective"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.7 (Yoast SEO v27.7) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Global Food Prices 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