fell for the fourth consecutive month in May, the Food and Agriculture Organization (FAO), of the United Nations, reported on Thursday.
, shows details of the Food, Price Index, which tracks international prices of the most commonly-traded food commodities.
“The FAO Sugar Price Index bucked the trend, rising 7.4 per cent from the previous month and undoing half of its April decline due to a rebound in international crude oil prices as well as lower-than-expected harvests in India and Thailand, respectively the world’s second-largest sugar producer and second-largest exporter,” it said.
In North America and Ukraine and near-record harvests in South America, maize accounts for 90 per cent of the predicted output increase of all cereals, with an expected expansion of 64.5 million tonnes, to a total of 1 207 million tonnes. It revealed that world cereal utilisation in the year ahead is also forecast to reach an all-time high, rising 1.6 per cent to 2 732 million tonnes, as feed, food and industrial uses are all expected to expand.
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