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October 7, 2024
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Sugar drives price increases in the world

Sugar drives price increases in the world

The prices of the products food in the world increased again in September, for the first time in 30 months, driven in particular by the sugar and in general for most subjects, according to a monthly report from the FAO published on Friday.

After several months of stabilization, the index of prices calculated by the Food and Agriculture Organization of the United Nations (FAO), which follows the variation of the prices international markets for a basket of basic products, grew 3% between August and September, and 2.1% in one year.

In particular, the price of sugar rose 10.4% in September, due to the prospects for sugarcane sugar in Brazil, a country affected by drought and fires.

Furthermore, the decision India to lift restrictions on the use of cane sugar to produce ethanol It also raises fears that there will be less availability to export, adds the FAO.

Increases in other products

The index of the oils vegetables increased 4.6% since August, whether palm oil – whose production was reduced more than expected in the large producing countries of Southeast Asia -, soybean, sunflower or rapeseed oil.

The cerealsfor their part, had a rise of 3% in one month, due to the increase in prices to the export of wheat and corn, due to the impact of the rains on the crops of wheat in Canada and the European Union and the difficulties of river transportation for corn in Brazil and the United States.

He riceon the contrary, has a more “context”don’t worry in general,” points out the FAOwhich signals a drop in their prices of 0.7%.

By 2024, the FAO decided to “slightly” increase its forecasts of production of cerealsto 2,853 million tons, somewhat below the 2023 record.

Global production of wheat grow by 0.5% this year compared to 2023, thanks to good returns in Australiawhich compensated for poor European harvests. The one of rice will reach a “historic maximum”, thanks above all to Indiaestimate the FAO.

The index of the prices of the products dairy increased by 3.8% in September, while that of the meat remained relatively stablewith +0.4%.

AFP is a major global information agency that offers fast, verified and complete coverage.

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