The FAO Food Price Index fell in January, slipping 1.9 per cent below its level in the last month of 2015, as prices of all the commodities it tracks fell, sugar in particular. The Food Price Index averaged 150.4 points in January, down 16 per cent from a year earlier and registering its lowest level since April 2009. The FAO Food Price Index is a trade-weighted index tracking international market prices for five key commodity groups: major cereals, vegetable oils, dairy, meat and sugar. The main factors underlying the lingering decline in basic food commodity prices are the generally ample agricultural supply conditions, a slowing global economy, and the strengthening. Read more...
Crop and livestock production prospects in Southern Africa have been weakened by the El Niño weather phenomenon that has lowered rains and increased temperatures. A reduced agricultural output would follow on last year's disappointing season, which has already contributed to higher food prices and "could acutely impact the food security situation in 2016," according to a special alert released on Tuesday by FAO's Global Information and Early Warning System (GIEWS). The season for planting maize in Southern Africa has already experienced delays, while crops sown stand to be negatively affected due to inadequate rains. Read more...
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