FAO- Global food commodity prices rebound in June

02 July 2020 |

2 July 2020, Rome - 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.

Effective from July 2020, the price coverage of the Food Price Index has been expanded and its base period revised from 2002- 2004 to 2014-2016. For more details on this revision, see the feature article published in the June 2020 issue of the FAO Food Outlook. A November 2013 article contains technical background on the previous construction of the Index.

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