INSUBCONTINENT EXCLUSIVE:
World food prices rose for a fifth month running in October, fully recovering from the shock caused by the global coronavirus pandemic and
with gains seen in most sectors, the United Nations food agency said on Thursday
The Food and Agriculture Organization's food price index, which measures monthly changes for a basket of cereals, oilseeds, dairy products,
meat and sugar, averaged 100.9 points last month, the highest since January, versus a slightly revised 97.8 in September
The September figure was previously given as 97.9
The Rome-based FAO also said in a statement that worldwide cereal harvests remained on course to hit an annual record in 2020, even though
above its value a year earlier
Wheat export prices were pushed higher amidst shrinking supplies, while maize hit over six-year highs, lifted by strong demand from China
largest sugar producing countries, due to below average rainfalls
dipped on the back of uncertainty over demand within the European Union
from Germany following the detection of African swine fever in Europe's largest economy.FAO revised down its forecast for the 2020 cereal
season for a second month running, cutting it by almost 13 million tonnes, reflecting lower expectations for the output of global coarse
levels."Prospects for the 2021 winter wheat crop, which is already being sown in the northern hemisphere, are generally strong, reflecting
the expectations of increased plantings in response to higher prices in several main producing countries, notably in the EU," FAO said
The forecast for world cereal stocks by the close of seasons in 2021 was 876 million tonnes, down 13.6 million tonnes from the previous
estimate posted last month.
