Global food prices rose for a third month in a row in May as prices of cereals and dairy products surged amid unfavourable crop conditions and higher demand.
The UN Food and Agriculture Organisation's price index, which tracks the most globally traded food commodities, averaged 120.4 points in May, up 0.9 per cent from its revised April level, the FAO said in a report on Friday. On an annual basis, however, the index fell by 3.4 per cent.
Cereal prices for May rose by 6.3 per cent compared to the previous month.
“Global export prices of all major cereals rose month-on-month, with wheat prices increasing the most,” the Rome-based organisation, said.
“The sharp monthly rise was largely due to growing concerns about unfavourable crop conditions for the 2024 harvests, possibly constraining yields in some main producing areas of several major exporting countries, including in parts of Europe, Northern America and the Black Sea region.”
The damage to the Black Sea shipping infrastructure amid the continuing war between Ukraine and Russia also added upwards pressure on cereal prices.
Russia and Ukraine are important producers of wheat and other cereals and use ports in the Black Sea to export cereals to different markets around the globe.
Maize export prices also increased in May on production concerns in both Argentina and Brazil as a result of unfavourable weather in the latter and damage to the crop from the spread of Spiroplasma disease in the former, according to FAO.
Dairy prices, meanwhile, rose 1.8 per cent in May from April, driven by increased demand from the retail and food services sectors ahead of the summer holidays and market expectations that milk production may fall below historical levels in Western Europe, the report said.
The meat price index and sugar price index during the month fell 0.2 per cent and 7.5 per cent respectively compared to April on the back of lower demand for poultry in some major producing countries in the case of the former and improved supply outlook in the case of later as production is expected to rise in Brazil, a major producer of sugar on conducive weather.
The vegetable oil price index also fell during the month, driven by lower palm oil prices, as outputs across major producing countries in Southeast Asia increased.
In a separate report on the supply and demand of cereals, the FAO forecast 2024/25 world cereal production at 2.846 billion metric tonnes, roughly on a par with 2023/24's record output, as output of barley, rice and sorghum are all predicted to increase, while wheat and maize production is projected to decline.
World cereal total utilisation in 2024/25 is expected to increase by 0.5 per cent year-on-year to a record high of 2.851 billion tonnes, while cereal stocks will increase by 1.5 per cent to a record 897 million tonnes, it said.
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
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What is cyberbullying?
Cyberbullying or online bullying could take many forms such as sending unkind or rude messages to someone, socially isolating people from groups, sharing embarrassing pictures of them, or spreading rumors about them.
Cyberbullying can take place on various platforms such as messages, on social media, on group chats, or games.
Parents should watch out for behavioural changes in their children.
When children are being bullied they they may be feel embarrassed and isolated, so parents should watch out for signs of signs of depression and anxiety
UAE currency: the story behind the money in your pockets
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1. Fasting
2. Prayer
3. Hajj
4. Shahada
5. Zakat
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The specs: 2018 Nissan Altima
Price, base / as tested: Dh78,000 / Dh97,650
Engine: 2.5-litre in-line four-cylinder
Power: 182hp @ 6,000rpm
Torque: 244Nm @ 4,000rpm
Transmission: Continuously variable tranmission
Fuel consumption, combined: 7.6L / 100km
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The five pillars of Islam
Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
Dubai works towards better air quality by 2021
Dubai is on a mission to record good air quality for 90 per cent of the year – up from 86 per cent annually today – by 2021.
The municipality plans to have seven mobile air-monitoring stations by 2020 to capture more accurate data in hourly and daily trends of pollution.
These will be on the Palm Jumeirah, Al Qusais, Muhaisnah, Rashidiyah, Al Wasl, Al Quoz and Dubai Investment Park.
“It will allow real-time responding for emergency cases,” said Khaldoon Al Daraji, first environment safety officer at the municipality.
“We’re in a good position except for the cases that are out of our hands, such as sandstorms.
“Sandstorms are our main concern because the UAE is just a receiver.
“The hotspots are Iran, Saudi Arabia and southern Iraq, but we’re working hard with the region to reduce the cycle of sandstorm generation.”
Mr Al Daraji said monitoring as it stood covered 47 per cent of Dubai.
There are 12 fixed stations in the emirate, but Dubai also receives information from monitors belonging to other entities.
“There are 25 stations in total,” Mr Al Daraji said.
“We added new technology and equipment used for the first time for the detection of heavy metals.
“A hundred parameters can be detected but we want to expand it to make sure that the data captured can allow a baseline study in some areas to ensure they are well positioned.”
Electric scooters: some rules to remember
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The burning issue
The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.
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COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
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The specs
Engine: 4.0-litre V8 twin-turbocharged and three electric motors
Power: Combined output 920hp
Torque: 730Nm at 4,000-7,000rpm
Transmission: 8-speed dual-clutch automatic
Fuel consumption: 11.2L/100km
On sale: Now, deliveries expected later in 2025
Price: expected to start at Dh1,432,000
The five pillars of Islam
