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Published On: Fri, Sep 7th, 2012

Meat and dairy prices rise as the effects of the drought still pending

The United Nations on Thursday reported that global food prices remained steady in August, but warned that the international community should continue to be vigilant and seek to prevent sharp price increases.

Arkansas NRCS Photo/Tim McCabe

“This is reassuring. Although we should remain vigilant, current prices do not justify talk of a world food crisis, but the international community can and should move to calm markets further,” the Director-General of the Food and Agriculture Organization (FAO), José Graziano da Silva, told a news briefing on the agency’s Food Price Index at FAO’s headquarters in Rome.

Meat prices, particularly those of poultry and pig, rose in August after three consecutive months of decline. Dairy prices also experienced a slight increase from July, sustained by the rising prices of skim milk powder, butter and whole milk powder.

Sugar prices however, fell by 8.5 percent from July, reflecting an improved production outlook and more favorable weather conditions in Brazil, the world’s largest sugar exporter, and recovering monsoon rains in India. In contrast, prices for oils and fats remained relatively unchanged, FAO said in a news release.

Dairy prices also showed a 1.6% uplift on July, caused by increases in skimmed and whole milk powder, casein and butter. “Much of the recent strength stems from the firming demand combined with production constraints in areas affected by drought and rising feed costs,” the UNFAO added.

Calling the figures “reassuring”, director-general José Graziano da Silva said although there was a need for vigilance, current prices did not justify talk of a world food crisis. The international community should, however, “move to calm markets further.”

The 213 figure for August is 25 index points below its peak of 238 in February last year and 18 points below last August 2011 levels.

The FAO Food Price Index measures the monthly change in international prices of a basket of food commodities.  

 

FAO Food Price Index from January 1990 to July 2012 (monthly data) graph uploaded by Jashuah

 

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About the Author

- Writer and Co-Founder of The Global Dispatch, Brandon has been covering news, offering commentary for years, beginning professionally in 2003 on Crazed Fanboy before expanding into other blogs and sites. Appearing on several radio shows, Brandon has hosted Dispatch Radio, written his first novel (The Rise of the Templar) and completed the three years Global University program in Ministerial Studies to be a pastor. To Contact Brandon email [email protected] ATTN: BRANDON

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