Global Food Commodity Prices Rebound in June
In June, global food commodity prices rose for the first time since the beginning of the year driven by a rebound in vegetable oils, sugar and dairy quotations. However, in the cereals and meat markets, most prices remained under downward pressure amid market uncertainties posed by the COVID-19 pandemic.
The FAO Food Price Index, which tracks international prices of the most traded food commodities, averaged 93.2 points in June, some 2.4 percent higher than the previous month.
The FAO Vegetable Oil Price Index gained 11.3 percent in June, after declining for four consecutive months. The rebound mainly reflects a sharp rise in palm oil prices due to recovering global import demand, following...
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