World food price index rises in June, first increase in 2020: UN | The Business Standard
Skip to main content
  • Latest
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
The Business Standard

Sunday
June 15, 2025

Sign In
Subscribe
  • Latest
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
SUNDAY, JUNE 15, 2025
World food price index rises in June, first increase in 2020: UN

Global Economy

Reuters
02 July, 2020, 03:10 pm
Last modified: 02 July, 2020, 05:01 pm

Related News

  • Poultry entrepreneurs seek tax relief to keep prices stable
  • Flood situation eases slightly in Akhaura
  • Budget offers subsidised food for 1.22 crore families
  • Eid-ul-Adha: Rawhide prices set at Tk60-65 per sqft in Dhaka, Tk55-60 outside
  • Why bone broth deserves a spot in your daily diet

World food price index rises in June, first increase in 2020: UN

The Food and Agriculture Organisation (FAO) food price index, which measures monthly changes for a basket of cereals, oilseeds, dairy products, meat and sugar, averaged 93.2 points last month, up 2.4% on May

Reuters
02 July, 2020, 03:10 pm
Last modified: 02 July, 2020, 05:01 pm
Photo: Collected
Photo: Collected

World food prices rose in June to post their first increase of 2020 and mark a slight rebound after the sharp falls triggered by the coronavirus pandemic, the United Nations food agency said on Thursday.

The Food and Agriculture Organisation (FAO) food price index, which measures monthly changes for a basket of cereals, oilseeds, dairy products, meat and sugar, averaged 93.2 points last month, up 2.4% on May.

FAO said it had rebased here all its indices, shifting the base period to 2014-16 from a previous 2002-04. "As trade patterns evolve, it is imperative to update the base period to ensure that the weighted basket remains relevant," it said.

The Business Standard Google News Keep updated, follow The Business Standard's Google news channel

Amid continued market uncertainty, the prices of vegetable oils, sugar and dairy products rebounded to multi-month highs following sharp declines in May, while in the cereals and meat indices, most prices remained under downward pressure.

The vegetable oil price index jumped 11.3% in June, reversing four consecutive months of falls. The rebound mainly reflected higher palm oil values, which were lifted by recovering global import demand and worries over possible production problems amid prolonged migrant labour shortages tied to the coronavirus outbreak.

The sugar index rose 10.6% month-on-month, partly shunted higher by reports of bottlenecks in Brazilian ports due to the measures introduced to contain the spread of the virus, FAO said.

The dairy index climbed 4.0% but all its components remained below where they had been before the pandemic swept the world.

The cereal price index slipped 0.6% from May, with downward pressure on wheat prices intensifying last month, due partly to improved production prospects in a number of major exporting countries, especially in the Black Sea region. By contrast maize prices were firmer in June, supported by some recovery in demand and adverse growing conditions in the United States, FAO said.

The meat price index also slipped 0.6% on the month, with quotations for poultry and bovine meats easing because of increased export availabilities in major producing regions.

FAO also revised up its forecast for the 2020 cereal season by some 9.3 million tonnes, foreseeing global output of almost 2.790 billion tonnes — a 3.0% increase on 2019's record harvest. The bulk of the monthly increase reflected an upward revision to Australia's wheat production estimates.

The forecast for world cereal utilisation in 2020/21 hit 2.735 billion tonnes, just over 43 million tonnes above the 2019/20 level. FAO's latest forecast for world trade in cereals in 2020/21 stands at 435.0 million tonnes, up 2.1% from 2019/20 levels and representing a new record high.

FAO's estimate for world cereal stocks by the close of seasons in 2021 rose by 2 million tonnes from the previous month to 929 million tonnes — a 6.0% increase year-on-year.

Top News / World+Biz

food / worldwide / Price

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • Representational image. Photo: Collected
    Bad loans soar by Tk74,570cr in 3 months, hit Tk4.2 lakh crore
  • Bangladesh Bank Governor Ahsan H Mansur. TBS Sketch
    5 Islamic banks to merge into one, no one will lose their jobs: BB governor
  • People watch from a bridge as flames from an Israeli attack rise from Sharan Oil depot, following Israeli strikes on Iran, in Tehran, Iran, June 15, 2025. Majid Asgaripour/WANA (West Asia News Agency) via REUTERS
    Iran says it will stop 'self-defence response' if Israel halts attacks

MOST VIEWED

  • Tour operator Borsha Islam. Photo: Collected
    ‘Tour Expert’ admin Borsha Islam arrested over Bandarban tourist deaths
  • Fighter jet. Photo: AFP
    3 F-35 fighter jets downed, two Israeli pilots in custody, claims Iranian media
  • Infographic: TBS
    Chattogram Port proposes 70%-100% tariff hike
  • Vehicles were seen stuck on the Dhaka-Tangail-Jamuna Bridge highway due to a traffic jam stretching 15 kilometres on 14 June 2025. Photo: TBS
    15km traffic jam on Dhaka-Tangail-Jamuna Bridge highway as post-Eid rush continues
  • Ahsan H Mansur. TBS sketch
    BB governor meets global litigation funders to mobilise $100m for tracing stolen assets
  • Burnt out cars and damaged buildings are all that’s left of this street in Ramat Gan Credit: AP
    Iran threatens to strike US, UK, and French bases if they help defend Israel

Related News

  • Poultry entrepreneurs seek tax relief to keep prices stable
  • Flood situation eases slightly in Akhaura
  • Budget offers subsidised food for 1.22 crore families
  • Eid-ul-Adha: Rawhide prices set at Tk60-65 per sqft in Dhaka, Tk55-60 outside
  • Why bone broth deserves a spot in your daily diet

Features

Renowned authors Imdadul Haque Milon, Mohit Kamal, and poet–children’s writer Rashed Rouf seen at Current Book Centre, alongside the store's proprietor, Shahin. Photo: Collected

From ‘Screen and Culture’ to ‘Current Book House’: Chattogram’s oldest surviving bookstore

45m | Panorama
Photos: Collected

Kurtis that make a great office wear

2d | Mode
Among pet birds in the country, lovebirds are the most common, and they are also the most numerous in the haat. Photo: Junayet Rashel

Where feathers meet fortune: How a small pigeon stall became Dhaka’s premiere bird market

4d | Panorama
Illustration: Duniya Jahan/ TBS

Forget Katy Perry, here’s Bangladesh’s Ruthba Yasmin shooting for the moon

4d | Features

More Videos from TBS

How the world is reacting to Israel attacks on Iran?

How the world is reacting to Israel attacks on Iran?

10m | TBS World
Chattogram Port proposes 70%-100% tariff hike

Chattogram Port proposes 70%-100% tariff hike

45m | TBS Insight
Israel-Iran strikes: What are the worst-case scenarios?

Israel-Iran strikes: What are the worst-case scenarios?

1h | TBS World
EC moving forward with polls preparations, committed to ensuring level playing field: CEC

EC moving forward with polls preparations, committed to ensuring level playing field: CEC

2h | TBS Today
EMAIL US
contact@tbsnews.net
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Advertisement
  • Privacy Policy
  • Comment Policy
Copyright © 2025
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - oped.tbs@gmail.com

For advertisement- sales@tbsnews.net