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World meals costs fell barely for the second consecutive month in Might however wheat costs rose once more as Russia’s battle in Ukraine rages on and India banned exports of the commodity, a UN company stated Friday.
The United Nations Meals and Agriculture Group’s meals worth index fell 0.6 p.c in Might from April as the costs of dairy merchandise and vegetable oils dropped. Costs, nevertheless, have been nonetheless 56.2 p.c greater than a yr in the past.
Wheat costs, in the meantime, rose by 5.6 p.c in Might in comparison with the earlier month.
They “rose in response to an export ban introduced by India and considerations over crop situations in a number of main exporting international locations in addition to diminished manufacturing prospects in Ukraine because of the battle,” the FAO stated.
Citing inflation and its personal meals safety wants, India banned final month any new wheat exports with out authorities approval after the most popular March on document — blamed on local weather change — hit harvests.
Vegetable oil costs fell 3.5 p.c partially on account of Indonesia lifting an export ban on palm oil, the FAO stated.
Supply: BSS/AFP
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