03 May 2018•Update: 04 May 2018
By Tuba Sahin
ANKARA
Global food prices remained broadly unchanged in April compared to the previous month, the UN Food and Agriculture Organization (FAO) said on Thursday.
The food price index averaged 173.5 points in April, indicating a slight rise from March's index -- 172.8 points -- the FAO said in a statement.
According to the statement, the index was 2.7 percent higher from the same month last year.
"Prices of cereals and dairy products continued their recent rising trend, while those of sugar continued their decline," it said.
The FAO Food Price Index is a trade-weighted index that tracks international market prices of five major food commodity groups.
Global cereal market projections
The UN body also said early prospects for global cereal markets in 2018-2019 were favorable, despite a forecasted decline in global cereal output and reserves.
"Global cereal crops output in 2018 is expected to fall to 2,607 million tons, about 1.6 percent below the near-record harvest of 2017," it said.
Global rise production is projected to reach a new record high level, rising 1.3 percent to reach 510.6 million tons due to expanded cultivations in Asia.
"As for cereal utilization, FAO's new forecast - both food and feed - also points to an all-time high of 2,626 million tons," the statement read.
The FAO added it expected world cereal stocks to drop 2.7 percent at the close of seasons ending in 2019.
