New Zealand – increase in milk price forecast
ANZ Bank has increased its milk price forecast by 50c/kg to NZ$8.20/kg (€4.93/kg) of milk solids for the 2021/2022 season.
Canada – reduction in wheat production
Canadian wheat production has been reduced by 2Mt to 21Mt, down from 23Mt in the September WASDE report, as the drought-impacted crop continues to be reassessed.
Brazil – beef price falling
Brazil cattle prices have fallen 10% since the suspension of beef exports to China to the equivalent of €2.88/kg.
World food price increase continues
The FAO Food Price Index (FFPI) averaged 130.0 points in September 2021, up 1.5 points (1.2%) on August and 32.1 points (32.8%) from the same month last year.