Meanwhile, pig meat prices recovered slightly on higher imports by several leading importers, amid continued low purchases by China. Bovine meat prices edged up, as China lifted its import restrictions for purchases from Brazil. World prices across all meat types increased, with poultry quotations rising sharply, reaching an all-time high, underpinned by the continued tight global supply conditions impacted by the war in Ukraine and the Avian Influenza outbreaks in the Northern Hemisphere. В» The FAO Meat Price Index* averaged 124.7 points in June, up 2.1 points (1.7 percent) from May, setting a new record high and exceeding by 14.0 points (12.7 percent) its June 2021 value. International butter prices rebounded as market uncertainty over milk deliveries in the months ahead bolstered foreign purchases as well as internal demand in Europe. World milk powder prices increased on strong import demand, persistent global supply tightness and low inventory levels. Quotations for cheese rose the most, underpinned by a surge in import demand for spot supplies amid market concerns over supply availabilities later in the year, as the early summer heat wave further weighed on already low milk output in Europe. In June, international prices of all dairy products increased. В» The FAO Dairy Price IndexВ averaged 149.8 points in June, up 5.9 points (4.1 percent) from May and as much as 29.9 points (24.9 percent) above its June 2021 value. In the case of rapeseed oil, besides demand rationing, international prices weakened on the imminent arrival of new crop supplies. In the meantime, world sunflower and soyoil price quotations also declined, tied to subdued global import demand in the wake of rising costs observed in recent months. International palm oil prices declined for the third consecutive month in June, as seasonally rising output of major producing countries coincided with prospects of increasing export supplies from Indonesia amid large domestic inventories. В» The FAO Vegetable Oil Price IndexВ averaged 211.8 points in June, down 17.4 points (7.6 percent) month-on-month, driven by lower prices across palm, sunflower, soy and rapeseed oils. Strong demand for Indica and basmati rice, coupled with thinning basmati availabilities, kept international rice prices on the rise in June. Among other coarse grains, sorghum and barley prices fell in June by 4.1 percent and 6.1 percent, respectively, in tandem with lower maize and wheat quotations. Concerns over demand prospects amidst signs of an economic slowdown added to the downward pressure. Downward pressure stemming from seasonal availabilities in Argentina and Brazil, where maize harvests progressed quickly, and improved crop conditions in the United States of America underpinned a 3.5-percent decline in world maize prices in June. International coarse grain prices fell by 4.1 percent in June, but were still 18.4 percent above their year-earlier values. The decline in June was driven by seasonal availability from new harvests in the northern hemisphere, improved crop conditions in some major producers, including Canada, higher production prospects in the Russian Federation, and slower global import demand. After reaching a near-record level in May, international wheat prices fell by 5.7 percent in June, but still up 48.5 percent from their values last year. В» The FAO Cereal Price Index averaged 166.3 points in June, down 7.2 points (4.1 percent) from May, but still 36.0 points (27.6 percent) above its June 2021 value. The drop in June reflected declines in the international prices of vegetable oils, cereals and sugar, while dairy and meat prices increased. В» The FAO Food Price Index* (FFPI) averaged 154.2 points in June 2022, down 3.7 points (2.3 percent) from May, marking the third consecutive monthly decline, though still 29.0 points (23.1 percent) above its value a year ago. The FAO Food Price Index drops for the third consecutive month in June

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