The World Bank has forecast a reduction in the international price of beef and chicken, cocoa, arabica and robusta coffee, and bananas, and increases in the price of corn.
From a statement issued by the World Bank:
WASHINGTON, July 22, 2015 –The World Bank is nudging up its 2015 forecast for crude oil prices from $53 in April to $57 per barrel after oil prices rose 17 percent in the Apr-Jun quarter, according to the Bank’s latest Commodity Markets Outlook, a quarterly update on the state of the international commodity markets.
The rising price of its main raw material has decreased profit margins of companies in the food industry, who are looking for alternative suppliers and using future hedge purchases.
Representatives of several companies in the food industry in Costa Rica noted that the escalating prices of wheat, corn and soybeans, the main raw material, are added to the U.S., the largest supplier of grains in the country, facing its worst drought,.
After five consecutive months of increases, the index of food prices fell slightly in July, reflecting a reduction in the prices of cereals and vegetable oils.
From a statement issued by the Food and Agriculture Organization:
4 August 2016, Rome –The international prices for majorfood commoditiessaw a modest decline in July, following five consecutive months of increases. The FAO Food Price Index (FPI) averaged 161.9 points in July 2016, slipping 0.8 percent (1.3 points) below its level in June and 1.4 percent below its level of July 2015.The overall decline of the Index was largely caused by drops in international quotations of grains and vegetable oils, more than offsetting firmer dairy, meat and sugar prices.
A proposal has been made for the creation of a commodity exchange for Latin American companies to trade products.
Laestrella.com.pa reports that "Panama could become the hub of negotiations for Latin American commodities. The initiative would attract agents or brokers from Argentina, Brazil, Mexico and other countries for buying and selling commodities from the isthmus."
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