World cereal production for 2016 should amount to 2 571 million tonnes, up marginally from FAO's October forecast and 1.5% above the 2015 output. The updated figure, released Monday in the Cereal and Supply Demand Brief, reflects a substantial upgrade of the outlook for world wheat production, which is now expected to rise to 746.7 million tonnes, a 4.3 million increase from FAO's October forecast.
FAO's Food Price Index is a trade-weighted index that measures prices of five major food commodities on international markets: in addition to sub-indices for prices of cereals, it also tracks meat, dairy products, vegetable oils, and sugar.