Food prices fell 3.7% in 2014 in the world said Thursday the United Nations Food and Agriculture Organization (FAO). According to this organization, which produces monthly food price index based on five core product groups – cereals, meat, milk, oils and sugar – only meat increased (+ 8%) compared to 2013. It s’ is the third consecutive annual decline, bringing the price decline of 12.5% over the period.
For the last month of 2014, the index was still marked a decline of 1.7% compared to November, driven lower by the sugar and oil of vegetable oils were palme.Les down 2.54% but mostly sugar lost 4.8%, “due to high inventories at the main producer, Brazil” while the oil price decline leads
Oils Plants were down 2.54% but mostly sugar lost 4.8%, “ due to high inventories at the main producer, Brazil ” while the oil price decline leads lower demand for ethanol (from sugar cane), FAO said in a statement.
This lesser interest in biofuels has also played on the demand for palm oil, which weighs heavier in the index of vegetable oils.
The price of dairy products (-2.3%) also reached their lowest level in December since 2009, due to the slowdown in the Russian and Chinese demand particularly milk powders, butter and cheese.
Only cereals have marked a slight recovery (+ 0.4%) with the brief spark on wheat prices, due to fears that Russia limit its exports.
Moscow late December announced the introduction of a tax on wheat exports to protect its domestic market, the collapse of the ruble discouraging producers to sell at home.
This tax will come into force on 1 February.
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