Pig prices have dropped for five consecutive months up to and including November on reduced Chinese imports, the FAO said.ĭJ U.S. Meat prices weakened by 0.9% in November, a fourth consecutive monthly decline.

Soy and rapeseed oils had prices weaken slightly while palm oil prices were little changed, the FAO said. Vegetable oil prices inched down 0.2% after hitting a record high in October. That resulted in less sugar supply and supported prices, the FAO said. Rising ethanol prices had prompted Brazilian sugar mills–which can produce either sugar or the biofuel–to increase their output of ethanol at the expense of sugar. Sugar prices rose 1.4%, reversing a decline in the previous month. Depleted stocks of butter and milk powders caused tight supplies for international buyers, the FAO said. Cereal prices increased largely as a result of rising wheat prices, the product of strong demand and supply issues, such as heavy rains in Australia that threaten to harm the quality of the nation’s crops.ĭairy prices gained 3.4%. The FAO’s Cereal Price Index, one of five subindexes that go into the broader gauge, rose 3.1%. The index, which tracks the cost of a basket of basic foodstuffs, rose thanks to price increases for grains, dairy and sugar, while meat and vegetable oil prices weakened slightly. The UN FAO’s Food Price Index rose 1.2% to 134.4 in November from October, driven by continued strong demand for basic food commodities. Global food prices rose for a fourth consecutive month in November, reaching their highest level since June 2011, the United Nations’ Food and Agriculture Organization said Thursday. DJ Food Prices Rise for Fourth Consecutive Month

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