The Food and Agriculture Organization (FAO) also warned that a sharp fall in the expected maize crop in the flood-hit United States had dampened its previous forecast of bumper global cereal production in 2019. FAO's food price index, which measures monthly changes for a basket of cereals, oilseeds, dairy products, meat and sugar, averaged 172.4. points last month against 170.3 points in April -- its highest level since last June. "World food prices rose for a fifth consecutive month in May after bad weather pushed up the prices of cheese and maize, the United Nations food agency said on Thursday." In its second forecast for 2019, FAO predicted world cereal production would come in at 2.685 billion tons, down from its previous forecast of 2.722 billion tons but still up 1.2% on 2018 levels, when output declined. "The year-on-year increase in global cereal production reflects expansions of wheat and barley production, while global rice output is likely to remain close to last year's record level," FAO said.

Source: Dhaka Tribune June 07, 2019 09:45 UTC