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Global Food Commodity Prices Show Slight Decline in August

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Global Food Commodity Prices Show Slight Decline in August....KINDLY READ THE FULL STORY HERE▶

The Food and Agriculture Organization (FAO) reported on Friday that global food commodity prices experienced a marginal decline in August. This decrease was primarily influenced by lower prices for sugar, meat, and cereals, which outweighed increases in vegetable oils and dairy products.

The FAO Food Price Index, which tracks monthly changes in international prices of a basket of globally traded food commodities, averaged 120.7 points in August. This figure reflects a slight decrease from the revised July figure and is 1.1 percent below its corresponding value from August 2023.

Cereal Prices Decline

According to information from the FAO’s website, the Cereal Price Index dropped by 0.5 percent from July. This decline was driven by lower global wheat export prices due to competitively priced Black Sea supplies and higher-than-expected production in Argentina and the United States.

Meanwhile, world maize prices firmed slightly, influenced by heatwaves affecting yields in parts of Europe and North America. Additionally, the FAO All-Rice Price Index increased by 0.6 percent, as prices for non-Indica varieties rose due to seasonal tightness and currency appreciations in some exporting countries against the U.S. dollar.

Vegetable Oils and Dairy Prices Rise

The FAO Vegetable Oil Price Index rose by 0.8 percent from July, reaching a 20-month high. This increase was driven by higher international palm oil prices, which more than offset declines in soy, sunflower, and rapeseed oils.

The FAO Dairy Price Index also saw an increase, rising by 2.2 percent in August. Whole milk powder prices surged due to heightened import demand for spot supplies. International cheese prices climbed as well, while international butter quotations hit an all-time high due to uncertainty surrounding milk supply adequacy in Western Europe.

Meat and Sugar Prices Decline

The FAO Meat Price Index fell by 0.7 percent from July, with prices for poultry, pig, and ovine meat all experiencing declines amid lackluster import demand. Conversely, world bovine meat prices increased slightly.

The FAO Sugar Price Index experienced a significant decline of 4.7 percent in August, reaching its lowest level since October 2022. This drop was supported by an improved production outlook for upcoming sugarcane harvests in India and Thailand, as well as lower international crude oil prices. However, concerns regarding the impact of fires on sugarcane fields in key growing areas of Brazil led to sharp price increases in late August.

Future Projections and Cereal Production Forecasts

The FAO has also revised its forecast for global cereal production in 2024, now estimating it at 2,851 million tonnes, nearly on par with the production of 2023. The new Cereal Supply and Demand Brief attributed this revision to reduced harvest expectations for coarse grains, including maize, primarily due to hot and dry weather conditions in the European Union, Mexico, and Ukraine.

Conversely, the FAO has raised its forecast for global wheat output in 2024, as well as rice production, which is now projected to reach an all-time high of 537 million tonnes. The world cereal total utilization for 2024/25 is forecasted to rise to 2,852 million tonnes, reflecting a 0.2 percent increase from 2023/24.

Utilization of rice is predicted to reach record highs, driven by expected accelerated growth in food intake. World cereal stocks are also forecasted to expand by 1.2 percent at the end of the 2025 season, resulting in a global cereal stocks-to-use ratio of 30.7 percent for 2024/25.

Finally, international trade in total cereals is now estimated at 485.6 million tonnes, which represents a 3.3 percent decline from 2023/24, mainly due to lower traded volumes in coarse grains.

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The Untold Truth: Fr. Mbaka Exposes The Secret Struggles Behind His Bold Endorsement Of Peter Obi!.

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11 hours ago

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June 13, 2026

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Rev. Fr. Ejike Mbaka, the Spiritual Director of the Adoration Ministry in Enugu, recently responded to critics by highlighting the significant risks he undertook to support Peter Obi during his impeachment as Governor of Anambra State. Speaking during a church program on Friday, Fr. Mbaka challenged the narrative that he has been a hindrance to the NDC presidential candidate.....KINDLY READ THE FULL STORY HERE▶

  • Defending his history of support: Fr. Mbaka asserted that he played a critical, behind-the-scenes role in gathering the necessary documentation and organizing the efforts required to restore Obi to office after his impeachment.

  • Criticizing fair-weather supporters: The cleric claimed that 99.9% of those now vocal in their support for the former governor had actually abandoned him during his impeachment ordeal.

  • Challenging his critics: Fr. Mbaka insisted that the efforts he made for Obi during that period were far greater than what his current supporters could replicate, and he encouraged people to verify these events with individuals like Chris Uba and Ibeto, who were present at the time.

  • Reaffirming his stance: He concluded by dismissing the criticism as uninformed, declaring that he has always been a solution rather than a problem and that he maintains a deep love for his people.

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“We Will Rig You!”: Peter Obi Issues Explosive Warning To INEC Over Alleged Election Manipulation!.

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11 hours ago

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June 13, 2026

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During a recent visit to Washington, D.C., Peter Obi, the presidential candidate of the Nigeria Democratic Congress (NDC), argued that the prevalence of election rigging in Nigeria is largely due to voters failing to actively defend their ballots. Obi emphasized that while candidates play a role in the process, credible outcomes ultimately depend on citizens remaining at their polling units to ensure votes are counted transparently. He criticized the “transactional” nature of Nigerian politics, suggesting that many voters prioritize other activities over the essential task of monitoring the electoral process. According to Obi, Nigeria’s primary challenge is poor political leadership, and he urged citizens to take collective ownership of their votes to demand the accountable governance required for the country to succeed.....KINDLY READ THE FULL STORY HERE▶

Peter Obi, presidential candidate of the Nigeria Democratic Congress (NDC), has called for increased citizen involvement in protecting electoral integrity. During a recent trip to Washington, D.C., Obi stated that election manipulation persists because voters frequently leave polling stations before the counting process is completed. He argued that:

  • Voters must proactively defend their ballots at polling units to ensure transparency and prevent rigging.

  • Nigeria’s fundamental obstacle is a crisis of political leadership, rather than a lack of natural or human resources.

  • Real change requires Nigerians to move beyond passive participation and take active responsibility for the electoral process.

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“This Is The Only Way!”: Matawalle Drops Bombshell, Unveils The Ultimate Solution To Nigeria’s Security Crisis!.

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11 hours ago

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June 13, 2026

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Bello Matawalle, the Minister of State for Defence, recently stated that ending Nigeria’s insecurity requires a combination of collective national effort and divine intervention. In an interview with BBC Hausa, he emphasized that insecurity is a broad national concern that transcends political, religious, and regional lines, necessitating unified support from citizens, community leaders, and security agencies.....KINDLY READ THE FULL STORY HERE▶

  • Call for Unity: The Minister urged Nigerians to prioritize national interest over partisan politics, noting that insecurity is not a tool for scoring political points.

  • Criticism of Opposition: Matawalle accused certain opposition figures of exploiting the security situation to incite the public against the government and advance their own political agendas, rather than helping to address the crisis.

  • Combating Misinformation: He raised alarm over the circulation of “fake and recycled” videos on social media—some dating back years or originating from other countries—which are falsely presented as current events to suggest worsening security under the Tinubu administration. He encouraged citizens to verify information before sharing it.

  • Government Commitment: Highlighting that the Federal Government has ordered security forces to deal decisively with criminal elements, Matawalle acknowledged that while progress is being made, complex security challenges cannot be resolved overnight.

  • Public Cooperation: He called for continued public patience, prayer, and the provision of actionable intelligence to security forces to help restore peace across the country.

The Minister’s comments come amid renewed public anxiety following reports of mass abductions at schools in Oyo and Borno states.

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