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635. World Food Price Index for September 2022

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The Food and Agriculture Organization of the United Nations (FAO) released the global Food Price Index on October 7, 2022. The September 2022 value averaged 136.3 points, 1.1 percent lower than in August and the sixth consecutive month of decline since March, when the price reached an all-time high. The September decline reflects a significant drop in international vegetable oil prices and moderate declines in sugar, meat, and dairy prices, which offset the upward reversal in the grain price index. However, the price index remained 7.2 points (5.5%) higher than its level a year ago. 

Cereal prices averaged 147.8 points in September, which is 2.2 points (1.5%) higher than in August and 14.9 points (11.2%) higher than in September of last year. International wheat prices moved up 2.2% in September due to uncertainty over whether the Black Sea Grain Initiative will continue after November and the potential impact on exports from Ukraine. In addition, concerns about drought conditions in Argentina and the US and tight supplies of maize were reflected in high demand for wheat in the EU. The rice price index rose 2.2% in September, preceded by a rise in indica rice prices as buyers responded to changes in India's export policy by creating concerns that they would have to find other sources of supply. In addition, disruptions in the marketing network and uncertainties about production in Pakistan contributed to higher prices. Demand, on the other hand, was subdued, helping to restrain rice price increases.

Vegetable oil prices fell 6.6% to 152.6 points, the lowest level since February 2021. This is due to the decline in international prices of palm, sunflower and rapeseed oils, which continue to reflect the drop in demand and the prospect of adequate exports from major countries. The decline in crude oil prices also contributed to the downward pressure on world vegetable oil prices.

Tomorrow, October 13, FAO Science and Innovation Forum 2022 side-event
 "Creating Sustainable Food Systems in Asia Monsoon Region through Science and Innovation” will be held online under the auspices of JIRCAS. Registration is open until 5 PM today. We hope you will join us.

FAO Science and Innovation Forum 2022 Side-event
Creating Sustainable Food Systems in Asia Monsoon Region through Science and Innovation
Date & Time:October 13 (Thu) 18:00~19:30 (JST)
Overview & Registration:https://www.jircas.go.jp/en/event/2022/e20221013
Deadline:October 12 (Wed) 17:00 (JST)

Contributor: IIYAMA Miyuki (Information Program)


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