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GLOBAL- In an unexpected turn of events, the prices of rice and sugar have bucked the trend of declining food commodity costs in August, driven by India’s export ban on basmati rice and concerns surrounding the El Niño weather phenomenon. While the FAO Food Price Index, compiled by the Food and Agriculture Organization of the United Nations, saw a decrease…
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ZAMBIA – India’s rice export ban will negatively affect the supply of the commodity, triggering higher prices on the domestic market according to the county’s financial analyst Trevor Hambayi. Speaking in an interview with Money FM News, Hambayi noted that since Zambia heavily relies on rice imports from India for its local market, the ban announced on 20th July would…
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MIDDLE EAST- According to the findings of a new report, global supply chain disruptions in the future will likely continue to affect access to agricultural produce and certain food imports to the Gulf Cooperation Council (GCC) countries, increasing food prices and thwarting food security. The GCC is a regional, intergovernmental, political, and economic union comprising Bahrain, Kuwait, Oman, Qatar, Saudi…
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GLOBAL-The Food and Agriculture Organization of the United Nations (FAO) food price index marginally declined in February while wheat prices rose fractionally. The FAO Food Price Index tracks monthly changes in the international prices of commonly-traded food commodities. This month’s fall indicates another reduction for the 11th consecutive month, according to the 3rd March 2023 report. In February, the FFPI…
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