FAO Food Price Index stable in June

Rome – The benchmark for world food commodity prices was unchanged in June, as increases in international quotations for vegetable oils, sugar and dairy products offset a decrease in those for cereals, the Food and Agriculture Organization of the United Nations (FAO) reported Friday.

The FAO Cereal Price Index declined by 3.0 percent in June from May

Global cereal output seen hitting all time high in 2024

World cereal total utilization in 2024/25 is forecast to rise to 2 856 million tonnes, up 0.5 percent from the previous year, led by rice and coarse grains.

The Cereal Supply and Demand Brief, also issued by FAO today, attributed its raised projections to a better harvest outlook for maize in Argentina and Brazil as well as Türkiye and Ukraine, which will offset downgrades to the outlook for Indonesia, Pakistan and several Southern African countries. The wheat production forecast has also been raised based on better prospects in Asia, notably Pakistan, which should outpace an expected decline in the Russian Federation due to inclement weather in major wheat producing areas earlier in the season. Global rice production is projected to reach a record 535.1 million tonnes.