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Organization (FAO) food price index concludes with a sharp fall in 2011
On: Friday 1/13/2012 4:55
Baghdad / term follow up
revealed the Food and Agriculture Organization of the United Nations FAO yesterday that its index of food prices have been falling sharply in the December / December 2011 by 2.4 percent, which is equivalent to five points as compared to the prices of food within a month of November.
The index level for the new author of 211 points, without than that which touched the peak height in the month of February 2011, by 11.3 percent or the equivalent of 27 points.
attributed the decline in international prices at the most to the decline in prices of grains and sugar and oils in response to the abundance of the crop in 2011 , due to slowing demand and rising U.S. dollar relatively, while the included effects of all food commodities.
However, prices, despite the continued decline in the second half of 2011, not ever-average index in the estimation of the Organization FAO has 228 points in 2011, the highest rate since FAO started to be organized to monitor food prices on the international level in 1990. The second highest rate of the former was recorded in 2008 by 200 points.
a period of uncertainty
and comment on the numbers of new expert said Abdul Redha Abbas, the chief economist of the grain, FAO FAO, it is difficult to make any firm predictions about the price trends for the coming months.
The FAO expert to international prices, despite falling in the case of many food commodities, the doubts that still envelop the world economy and energy markets and the currency but also casts uncertainty on the future perspective.
Among the major commodities, the prices of grain steepest decline, with Index Organization FAO grain prices down by 4.8 percent to 218 points in December. Due to the abundance of record crop, and expectations of the supply of improved prices have shown a major grain movement, landing important, as prices fell maize by 6 percent, wheat by 4 percent, rice by 3 percent.
For in 2011 as a whole, the total index of grain prices, FAO FAO 247 points , ie higher than that in 2010 about 35 percent, while affecting the peak level recorded since the seventies.
decline in the prices of oils and fats
prices remained oils and fats constant at 227 points in the index of the Organization FAO of these commodities during the period December 2011, which comes under the month of November by 3 percent, and lower than the level of 264 points one year ago. And have expectations increments major output of vegetable oils to high balances, particularly palm oil and sunflower, as led with the decline in global demand is also on soybeans to price deflation.
In the meantime, the average index of prices of meat, FAO 179, ie somewhat less than in November. While landing back at the most to the decline in the value of pork, which dropped in price by 2.2 percent, and meat sheep also had subsided relatively value, contrary to the recorded value of poultry meat and beef moderate gains. The scale annual Prices of meat in 2011, higher than the levels for 2010 by 16 percent.
dairy products recorded an increase
and index the FAO dairy price FAO 202 points, without any change almost since November, while moving the value of dairy products rose a bit value college, with the exception of butter, the dollar has depreciated 1 percent.
Over the full year, there were dairy products, on average, 10 percent higher than the levels in 2010, due to strong gains in the price of powdered skim milk and casein diet, as it made the rate of increase overall by 17 percent. The prices of butter and whole milk increases less, around 11 percent, while the increase in the value rates cheese is generally about 8 percent.
highlights the index price of sugar, FAO FAO decline for the fifth consecutive month, to 327 points in December / January, ie lower than 4 percent for November and about 18 percent from its peak in 2011, recorded in the month of July. And reflect the movement of the decline in recent months, most likely produce a large surplus forecast at the global level for the new season, thanks to the abundant harvest of both India and the countries of the European Union, and Thailand.
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