March world food prices fall to lowest since 2010
Rome
GLOBAL food prices fell in March to their lowest in almost five years as supplies for most commodities, including cereals and meat, remained robust, the United Nations food agency said on Thursday.
The UN Food and Agriculture Organization's (FAO) price index, which measures monthly changes for a basket of cereals, oilseeds, dairy, meat and sugar, averaged 173.8 points last month, its lowest since June 2010 and 2.6 points below its February reading. "We have quite a bit of a supply surplus in the market and that's definitely creating downward pressure across the board, except on dairy prices," FAO economist Abdolreza Abbassian said.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Consumer & Healthcare
HCA beats first-quarter profit estimates on higher patient admissions
US FDA approves Pfizer’s gene therapy for rare bleeding disorder
EU toughens rules on Chinese fashion retailer Shein
Best World under fire from shareholders at AGM over dividends, director salaries
‘Extreme’ climate blamed for world’s worst wine harvest in 62 years
Sheng Siong Q1 net profit up 9.3% on higher revenue