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World meals costs fall to lowest in additional than two years in Nov – EAST AUTO NEWS

World meals costs fall to lowest in additional than two years in Nov


World meals costs declined in November to their lowest degree in additional than two years, led down by a lot weaker vegetable oil, dairy and cereal costs, the United Nations meals company stated on Thursday.

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.

World meals costs fall to lowest in additional than two years in Nov – EAST AUTO NEWS
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