International sugar prices rise for the first time in a month... oils, fats and dairy products also rise = South Korean report

International sugar prices have turned upward for the first time in a month, due to the expectation of reduced harvests in major sugar producing countries such as Brazil and India. International oil and fat prices, including soybean oil and sunflower oil, have also risen 3.1% from the previous month.
According to the Ministry of Agriculture, Food and Rural Affairs of South Korea on the 6th, the Food and Agriculture Organization of the United Nations (FAO) recorded the World Food Price Index of 120.6 points in June, the same as the previous month.
By product category, the international oil and fat price index rose 3.1% from the previous month (127.8 points) to 131.8 points. The recent price drop of palm oil has led to a drop in international import demand.
Soybean oil prices rose due to increased demand for biofuels in the Americas, while sunflower oil prices rose due to a decline in export processing volumes in the Black Sea region.
The international sugar price index rose 1.9% from the previous month (117.1) to 119.4 points, marking the first increase in a month. In Brazil, the main sugar producing country, the May harvest volume was lower than the existing forecast.
The country's overall production has been weak and dry, raising concerns about a possible decline in production. Erratic rains in India have contributed to the European Union's downward revision of its crop forecast.
The international dairy price index also increased by 1.2% from the previous month. International butter prices, skim milk powder, and whole milk powder all showed an upward trend. Milk production in Western Europe and Oceania
The decline was due to an increase in consumption of skim milk powder and other products. However, cheese prices fell due to a slowdown in international import demand. Meanwhile, the international grain price index fell 3.0% from the previous month.
The improved wheat production outlook for major exporters, including Latvia, and a temporary wheat import ban in Turkey also influenced wheat prices. Corn was also boosted by Argentina, Brazil, and the United States.
The meat price index fell slightly by 0.1% due to the impact of increased supply in major producing countries.
A Ministry of Agriculture, Food and Rural Affairs official said, "The tariff quota is intended to ease the management burden of food companies due to rising international prices of some food ingredients and to stabilize consumer prices.
"We have expanded the scope of application of the measure from 30 items to 37 items in the first half of the year," he said, emphasizing, "We plan to closely cooperate with the industry and monitor the market situation."