Cereals are cheaper, meat is more expensive

The Food and Agriculture Organization of the United Nations (FAO) Cereal Price Index fell 3.8% from June as world export prices for all major grains fell for a second month in a row, World of NAN reports.

Wheat prices fell amid secure supplies after the northern hemisphere harvest and generally favorable conditions in Canada and the United States. Maize export prices also fell, supported by a good harvest in Argentina and Brazil. The Rice Price Index fell 2.4% from June amid generally calm trade activity for the major varieties.

According to the FAO, the Meat Price Index was 1.2% higher in July than in June. World ovine and bovine meat prices rose mainly due to stable import demand and a seasonal decline in livestock numbers in Oceania. The vegetable oil price index has risen 2.4% since June, hitting a six-month high. Global palm, soybean, sunflower and rapeseed oil prices have all risen, helped by robust soybean oil demand from the biofuels sector and worsening sunflower and rapeseed oil crop prospects in several major producing countries.

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