World meals costs fall to lowest in additional than two years in Nov
The Meals and Agriculture Group’s (FAO) meals value index, which measures month-to-month modifications for a basket of cereals, oilseeds, dairy merchandise, meat and sugar, averaged 160.eight factors final month, down from a revised 162.9 in October, reaching its lowest degree since Could 2016.
The October determine was beforehand given as 163.5.
FAO stated international cereals output in 2018/19 was seen at 2.595 billion tonnes, down marginally from the earlier forecast and a pair of.four p.c beneath final 12 months’s file excessive manufacturing.
FAO’s forecast for world wheat manufacturing in 2018/19 was 725.1 million tonnes, 2.eight million tonnes decrease than the earlier forecast.