Global food prices edge lower
ISLAMABAD: World wheat prices have declined following four consecutive monthly increases, largely reflecting subdued international demand and an improving production outlook. According to the Food Price Index, published by the United Nations Food and Agriculture Organisation (FAO) on Friday, expectations of easing constraints on export flows added to the downward pressure on prices, although…
World wheat prices have dipped as global demand remains subdued and production outlook improves. The Food Price Index, released by the United Nations Food and Agriculture Organisation on Friday, indicates a drop in October due to weaker import demand, which cut prices for cereals, dairy products, and meat. Despite this month-on-month decline, the index remains 5.9pc above its level a year ago and 16.4pc below its March 2022 peak.
World cereal production is projected to fall in 2026, but stay at its second-highest level on record. Rice production is expected to decline for the first time in four seasons. Global cereal stocks are anticipated to increase by 17.2 million tonnes by the end of 2027, mainly due to higher inventories in Russia and Ukraine. Cereal trade is forecast to decline by 3.3pc in 2026-27, with wheat trade seeing the largest fall due to supply and logistical constraints.
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