The FAO Food Price Index continued to decline in January, averaging 182.7 points for the month, or 1.9 percent below its December 2014 level. Lower prices reflect strong production expectations as FAO also raised its 2014 forecast for world cereal production to a record high and noted that early indications for crops in 2015 are favorable.
FAO's monthly Food Price Index declined in December after three months of stability. Continued large supplies and record stocks combined with a stronger U.S. dollar and falling oil prices contributed to the decline, which helped bring the 2014 overall Food Price Index down 3.7%.
The close historic and farming links between the Falkland Islands and the Magallanes Region, were underlined in a recent article by Punta Arenas researcher Silvestre Fugellie dedicated to sheep farming, the 'golden fleece' that changed the economy of those barren lands in the extreme south of Chile over a century ago.
Argentine farmers exported more than 300 million dollars worth of grains and oilseeds in the last two days of 2014 to help bring in much needed cash for the nation’s central bank. The situation was boosted by an agreement reached between farmers and the Argentine government regarding foreign currency payment for the grains and oilseed.
Other members of cabinet announced for Dilma's next term due to start on January 1.
Latest indications confirm that world cereal production will reach an all-time record of more than 2.5 billion tonnes in 2014. Buoyed by bumper crops in Europe and a record maize output in the United States this year's cereal output should reach 2.532 billion tonnes, including rice in milled terms, or 0.3% higher than 2013, according to FAO's latest Crop Prospects and Food Situation Report.
Brazil's commodities bureau, Conab hiked by 5.3 million tons to 95.8 million tons its forecast for the country's soybean crop, reversing the negative trend in harvest forecasts, citing the benefit from rains in some southern areas. The previous estimate for the crop to be harvested early next year was 90.5m tons.
FAO's monthly food price index was stable in November, as vegetable oil and grain prices inched up and offset ongoing declines in dairy prices. The Food Price Index averaged 192.6 points, marking the third consecutive month of stability. The Index now stands 13 points, 6.4 percent below its level in November 2013.
According to FAO's monthly Cereal Supply and Demand Brief release, the forecast for 2014 world cereal production by about one million tons. At 2.5 billion tons, the full-year production figure would be 3.7 million tons below 2013's record output.
FAO's monthly food price index was stable in October, as sugar and vegetable oil prices rose to offset declines in dairy and meat prices. The Food Price Index dipped to 192.3, technically, its seventh consecutive monthly decline, but a marginal 0.2% drop from the revised September figure.