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    ‘Quantum India Bengaluru is not just a summit; it is a signal of intent.’-N.S.Boseraju, Minister for Minor Irrigation and Science & Technology, GoK.

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    A THREE-DAY CELEBRATION OF INDIAN CLASSICAL MUSIC FROM 11TH TO 13TH JULY 2025, AT THE SWAMI VIVEKANANDA SABHANGANA, RAMAKRISHNA MATH, BENGALURU.

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    ‘Quantum India Bengaluru is not just a summit; it is a signal of intent.’-N.S.Boseraju, Minister for Minor Irrigation and Science & Technology, GoK.

    SatSure and Dhruva Space Unite to Launch India’s First Full-Stack Earth Observation-as-a-Service Ecosystem

    Park Hyatt Set to Debut in Vancouver in 2026

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    Michelin-Starred Chef Shane Osborn Makes India Debut at Le Cirque Signature, The Leela Palace Bengaluru on July 11th & 12th, 2025.

    Barbeque Nation Opens New Outlet at Garuda Mall, Expands Central Bangalore Presence.

    Receiving JCI accreditation is a profound moment for Ramaiah Memorial Hospital and a validation of our relentless pursuit of excellence in patient care,”-Dr. M.R. Jayaram, Chairman, Gokula Education Foundation (Medical).

    “Deprived farmers of J&K will receive benefits under PM-KISAN” — Union Minister Shivraj Singh Chouhan

    RELIANCE RETAIL STRENGTHENS BEAUTY PLAY WITH STRATEGIC INVESTMENT IN UK-BASED FACEGYM

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    SatSure and Dhruva Space Unite to Launch India’s First Full-Stack Earth Observation-as-a-Service Ecosystem

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    MiQ Sigma: Built at MiQ’s Bengaluru Centre of Excellence (CoE), the Industry’s First AI Platform That Unifies the Programmatic Ecosystem

    TECNO Gears up to Launch POVA 7 Series with Bold New Delta Interface on July 4, Exclusively on Flipkart

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    ‘Waves’ an OTT platform that offers clean family-friendly content: Sunil Bhatiya, Deputy Director General, Doordarshan Kendra, Panaji

    Sri Sai Gold Palace’s 7th store inaugurated in Malleshwaram,Bengaluru.

    Lulu Mall Hosts Bangalore’s Biggest Non-Alcoholic Holi Celebration

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    Myntra Glamstream Kicks Off with a Sneak Peek of “Jordan” by Badshah — India’s First Shoppable Fashion Music Video

    European Union Cheese Campaign Enters Third Year with an Indian Flair

    Air Canada Celebrates Canada Day with Limited-time Fare Discounts for Customers Flying from India

    Shah Rukh Khan to Grace the Grand Opening of City of Dreams Sri Lanka

    Michelin-Starred Chef Shane Osborn Makes India Debut at Le Cirque Signature, The Leela Palace Bengaluru on July 11th & 12th, 2025.

    Barbeque Nation Opens New Outlet at Garuda Mall, Expands Central Bangalore Presence.

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    Air Canada Celebrates Canada Day with Limited-time Fare Discounts for Customers Flying from India

    Shah Rukh Khan to Grace the Grand Opening of City of Dreams Sri Lanka

    Shah Rukh Khan to Grace the Grand Opening of City of Dreams Sri Lanka

    Sri Lanka Tourism boosts Indian MICE Engagement with Dynamic and Exclusive Networking Evening in TAJ Krishna, Hyderabad

    European Leaders Join Forces to Drive Growth and Innovation  

    Boeing Names Stephen Parker as CEO of Defense, Space & Security

    Union Minister of Finance and Corporate Affairs Smt. Nirmala Sitharaman Highlights Key Policy Measures to Promote Export-led Growth at Exim Bank’s Trade Conclave

  • National
    • All
    • Economy & Politics
    • Election

    ‘Quantum India Bengaluru is not just a summit; it is a signal of intent.’-N.S.Boseraju, Minister for Minor Irrigation and Science & Technology, GoK.

    SatSure and Dhruva Space Unite to Launch India’s First Full-Stack Earth Observation-as-a-Service Ecosystem

    Myntra Glamstream Kicks Off with a Sneak Peek of “Jordan” by Badshah — India’s First Shoppable Fashion Music Video

    A THREE-DAY CELEBRATION OF INDIAN CLASSICAL MUSIC FROM 11TH TO 13TH JULY 2025, AT THE SWAMI VIVEKANANDA SABHANGANA, RAMAKRISHNA MATH, BENGALURU.

    European Union Cheese Campaign Enters Third Year with an Indian Flair

    Initial Phase of Bihar SIR Completed

  • Business

    ‘Quantum India Bengaluru is not just a summit; it is a signal of intent.’-N.S.Boseraju, Minister for Minor Irrigation and Science & Technology, GoK.

    SatSure and Dhruva Space Unite to Launch India’s First Full-Stack Earth Observation-as-a-Service Ecosystem

    Park Hyatt Set to Debut in Vancouver in 2026

  • Health

    Michelin-Starred Chef Shane Osborn Makes India Debut at Le Cirque Signature, The Leela Palace Bengaluru on July 11th & 12th, 2025.

    Barbeque Nation Opens New Outlet at Garuda Mall, Expands Central Bangalore Presence.

    Receiving JCI accreditation is a profound moment for Ramaiah Memorial Hospital and a validation of our relentless pursuit of excellence in patient care,”-Dr. M.R. Jayaram, Chairman, Gokula Education Foundation (Medical).

    “Deprived farmers of J&K will receive benefits under PM-KISAN” — Union Minister Shivraj Singh Chouhan

    RELIANCE RETAIL STRENGTHENS BEAUTY PLAY WITH STRATEGIC INVESTMENT IN UK-BASED FACEGYM

    Wow! Momo Launches India’s First Gluten-Free Range of Momos – A Game-Changer for Health Conscious Foodies

  • Technology
    • All
    • Environment
    • Science

    SatSure and Dhruva Space Unite to Launch India’s First Full-Stack Earth Observation-as-a-Service Ecosystem

    “SEZs can be a bridge between Indian and global aerospace and defence industries via Startup India.”-Piyush Goyal ,Union Minister for Commerce and Industry 

    MiQ Sigma: Built at MiQ’s Bengaluru Centre of Excellence (CoE), the Industry’s First AI Platform That Unifies the Programmatic Ecosystem

    TECNO Gears up to Launch POVA 7 Series with Bold New Delta Interface on July 4, Exclusively on Flipkart

    Jockey Woman continues to shape India’s intimate wear landscape with strategic expansion

    AMD Unveils Vision for an Open AI Ecosystem, Detailing New Silicon, Software and Systems at Advancing AI 2025

  • Auto

    Stellantis Pro One announces start of production in the Italian Atessa plant of new versions of the Large Van “Cargo Box” and Recreational Vehicles

    Volvo Cars reports June sales

    Odysse Electric Clocks 344 Units Sold in June, Records 54% Monthly Growth

    DGCA carries out comprehensive surveillance at major airports, including Delhi and Mumbai

  • Sports

    Rescheduling of India’s white-ball Tour of Bangladesh

    BPCL’s Premium Petrol Speed Fuels Neeraj Chopra Classic 2025

    Superstar Kichcha Sudeepa Acquires Bengaluru Racing Team the Indian Racing Festival — Launches ‘Kichcha’s Kings Bengaluru’ to Unite Cinema, Speed, and City Pride

    TCS World 10K Bengaluru Ignites the Spirit of Giving: NGOs, Citizens, and Corporates raise INR 3.83 Crores for Social Good

  • Entertainment

    A New Era in Luxury Weddings – Vogue Wedding Atelier Debuts in India

    GenS Life and Dowith Lit Present ‘Senior Spotlight’: Bengaluru’s Open Mic Celebration for the 55+

    PMJ Jewels Launches PMJ SuperStar Bracelet and ‘Celebrating Daughters’ Campaign

    ‘Waves’ an OTT platform that offers clean family-friendly content: Sunil Bhatiya, Deputy Director General, Doordarshan Kendra, Panaji

    Sri Sai Gold Palace’s 7th store inaugurated in Malleshwaram,Bengaluru.

    Lulu Mall Hosts Bangalore’s Biggest Non-Alcoholic Holi Celebration

  • Lifestyle
    • All
    • Food
    • Travel

    Myntra Glamstream Kicks Off with a Sneak Peek of “Jordan” by Badshah — India’s First Shoppable Fashion Music Video

    European Union Cheese Campaign Enters Third Year with an Indian Flair

    Air Canada Celebrates Canada Day with Limited-time Fare Discounts for Customers Flying from India

    Shah Rukh Khan to Grace the Grand Opening of City of Dreams Sri Lanka

    Michelin-Starred Chef Shane Osborn Makes India Debut at Le Cirque Signature, The Leela Palace Bengaluru on July 11th & 12th, 2025.

    Barbeque Nation Opens New Outlet at Garuda Mall, Expands Central Bangalore Presence.

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FAO Food Price Index registered a steep drop in July

by FWM
August 6, 2022
in Business
0

05/08/2022The FAO Food Price Index* (FFPI) averaged 140.9 points in July 2022, down 13.3 points (8.6 percent) from June, marking the fourth consecutive monthly decline. Nevertheless, it remained 16.4 points (13.1 percent) above its value in the corresponding month last year. The July decline was the steepest monthly fall in the value of the index since October 2008, led by significant drops in vegetable oil and cereal indices, while those of sugar, dairy and meat also fell but to a lesser extent.

» The FAO Cereal Price Index averaged 147.3 points in July following a fall of 19.1 points (11.5 percent) from June, but remained 21.0 points (16.6 percent) above its July 2021 value. International prices of all the cereals represented in the index fell. Leading the decline, world wheat prices fell by as much as 14.5 percent in July, partly in reaction to the agreement reached between Ukraine and the Russian Federation to unblock Ukraine’s main Black Sea ports, indicating the imminent resumption of grain exports from Ukraine. Seasonal availability from ongoing harvests in the northern hemisphere also weighed on prices. Nevertheless, international wheat prices were still 24.8 percent above their values in July last year. International prices of coarse grains declined for the fourth consecutive month, down 11.2 percent, but remained 12.1 percent above their values a year ago. The deal to unblock Ukraine’s ports was also mostly behind a 10.7-percent fall in world maize prices. Increased seasonal availabilities in Argentina and Brazil, where maize harvests progressed ahead of their pace last year, also helped to ease the pressure on prices. Spillover from weakness in wheat and maize markets also pressured sorghum and barley prices downwards, respectively, by 12.8 percent and 12.6 percent. In July, international rice prices declined for the first time since the onset of 2022, influenced by inconsistent demand and currency movements in major exporters.

» The FAO Vegetable Oil Price Index averaged 171.1 points in July, down 40.7 points (19.2 percent) and marking a 10-month low. The sharp drop was driven by falling world prices across palm, soy, rapeseed and sunflower oils. International palm oil prices declined for the fourth consecutive month in July, due primarily to prospects of ample export availabilities out of Indonesia, the world’s leading palm oil exporter. In the meantime, world soy and rapeseed oil quotations fell on, respectively, protracted sluggish demand and expectations of ample new crop supplies. In the case of sunflower oil, international prices dropped markedly amid subdued global import demand, despite continued logistics uncertainties in the Black Sea region. Lower crude oil prices also exerted downward pressure on vegetable oil values.

» The FAO Dairy Price Index averaged 146.4 points in July, down 3.8 points (2.5 percent) from June, but still 29.7 points (25.4 percent) above its value in July of last year. International quotations for skim milk powder registered the steepest decline, followed by those of butter and whole milk powder, principally reflecting lacklustre market activities in Europe due to the summer holidays. Furthermore, most buyers were well covered for their immediate needs, which, in tandem with weak demand from China and high dairy prices, led to declines in the demand for spot supplies, weighing on international quotations. Meanwhile, world cheese prices remained stable, as high internal sales in European tourist destinations compensated for weaker global import demand. Despite an overall weak trading activity, tight global supplies sustained global dairy prices at elevated levels.

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» The FAO Meat Price Index* averaged 124.0 points in July, down 0.6 points (0.5 percent) from June, marking the first month-on-month decline following six consecutive monthly increases. In July, world quotations for ovine meat dropped steeply, due to increased export availabilities from Australia amid high slaughter and expectations of increased lamb supplies, faced by lower import demand. Meanwhile, international bovine meat prices fell, reflecting increased export availabilities from major producing regions compared to global demand, while weak overall import demand kept pig meat prices stable despite the tight supply of slaughter hogs, especially in the United States of America. By contrast, international poultry meat prices reached an all-time high, underpinned by firm global import demand and tight global supplies on Avian influenza outbreaks in the northern hemisphere, notwithstanding recent increases in exports from Ukraine.

» The FAO Sugar Price Index averaged 112.8 points in July, down 4.4 points (3.8 percent) from June, marking the third consecutive monthly decline and reaching a five-month low. Concerns over demand prospects due to expectations of a further slowdown of the global economy in 2022 weighed on international sugar price quotations. The decline in prices was also triggered by the weakening of the Brazilian real against the United States dollar and lower ethanol prices, which resulted in a larger than earlier-expected sugar production in Brazil in the first half of July. Indications of greater exports from India and favourable production prospects for the coming season also contributed to the decline in world sugar prices in July. By contrast, concerns over the impact of prolonged hot and dry weather conditions on yield potential in the European Union prevented more substantial price declines.

* 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.

FWM

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