World Food Prices Down in May

Jun 02, 2023

Wheat and corn helped to lead the way down as world food prices eased in May, the Food and Agriculture Organization (FAO) of the United Nations reported Friday.

The FAO Food Price Index, which tracks monthly changes in the international prices of commonly traded food commodities, averaged 124.3 points in May, down 2.6% from April and as much as 22.1% below the all-time high reached in March 2022 following the Russian invasion of Ukraine.

The May decline in food prices follows a slight uptick in April, when the index inched up 0.6% to 127.2 points. The increase in April was the first in a year.

The FAO Cereal Price Index fell 4.8% in May from the previous month, led by a 9.8% drop in world corn quotations due to a favourable production outlook and weak import demand. World wheat prices declined, by 3.5%, reflecting ample supplies and the new extension of the Black Sea Grain Initiative. In contrast, international prices of rice continued to increase in May, underpinned by Asian purchases and tighter supplies in some exporting countries, such as Viet Nam and Pakistan.

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Video: A chain harrow is a game changer

Utilizing a rotational grazing method on our farmstead with our sheep helps to let the pasture/paddocks rest. We also just invested in a chain harrow to allow us to drag the paddocks our sheep just left to break up and spread their manure around, dethatch thicker grass areas, and to rough up bare dirt areas to all for a better seed to soil contact if we overseed that paddock. This was our first time really using the chain harrow besides initially testing it out. We are very impressed with the work it did and how and area that was majority dirt, could be roughed up before reseeding.

Did you know we also operate a small business on the homestead. We make homemade, handcrafted soaps, shampoo bars, hair and beard products in addition to offering our pasture raised pork, lamb, and 100% raw honey. You can find out more about our products and ingredients by visiting our website at www.mimiandpoppysplace.com. There you can shop our products and sign up for our monthly newsletter that highlights a soap or ingredient, gives monthly updates about the homestead, and also lists the markets, festivals, and events we’ll be attending that month.