Miller Magazine Issue 146 February 2022

34 MILLER / FEBRUARY 2022 NEWS UkrAgroConsult invites agribusiness operators to join the 19th International Conference ‘BLACK SEA GRAIN’, which will take place on April 6-7, 2022, InterContinental, Kyiv, Ukraine. The conference will bring the main market makers across the continents all together again to exchange, network and trade in the heart of the Black Sea region. The gauge for world food prices went up in January, largely catalysed by supply-side constraints for vegetable oils, the Food and Agriculture Organization of the United Nations (FAO) reported. Black Sea Grain offers participants 2 days of exclusive agri market analysis and insights from the top industry experts, ef- fective networking and meetings with players across the value chain, top managers, decision-makers and opinion leaders. Key topics to discuss: 1. Global Mega Trends. Shaping the Markets, Trade & Ag- ricultural Policy 2. Black Sea Agri Market. LongtermDevelopment Forecasts 3. Trade Talk. Grain Origination as a Key for Effectiveness 4. Ukraine: Land Market Evolution 5. Deep Processing of Grains: New Products and Markets 6. Ensuring the Quality of 2022 Crop: New Trends in In- puts & Crop Protection Markets. Impact on Pricing 7. Climate-Smart Technologies for Sustainable Crop Pro- duction in Ukraine 8. Investments in Agribusiness: New Opportunities & Successful Cases Black Sea Grain annually brings together 700+ delegates from 50+ countries. Among them are: international producers and crushers of grains and oilseeds, agri holdings, commodity traders, banks and investment funds, commodity exchanges, government authorities and industry associations, shippers, bro- kers, insurance, surveying, law and consulting companies etc. The FAO Food Price Index averaged 135.7 points in January, 1.1 percent higher than in December. The increase has been driven by a significant jump in vegetable oil and dairy prices. The Index tracks monthly changes in the international prices of commonly-traded food commodities. The FAO Vegetable Oils Price Index led the re- bound in January, increasing by 4.2 percent month-on-month and reversing its December decline to reach an all-time high. Quota- tions for all major oils rose, also supported by rising crude oil pric- es. Referring to the latest vegetable oils price increase, Boubaker Ben-Belhassen, Director of FAO’s Markets and Trade Division said: “Reduced export availabilities on top of other supply-side con- straints, especially labour shortages and unfavourable weather, largely pushed vegetable oil prices up to an all-time high. There is a concern the impacts of these constraints will not ease quickly.” The FAODairy Price Index increased by 2.4 percent, its fifth con- secutive monthly rise, with the steepest increases registered for skim milk powder and butter. Reduced export availabilities from Western Europe and below-average expectations for milk produc- tion in Oceania in the months ahead contributed to the tightening in global dairy markets, as did processing and transportation de- lays linked to COVID-19-related labour shortages. The FAO Cereal Price Index in January increased marginally, by 0.1 percent, from December. Maize export prices rose by 3.8 percent during the month, spurred by worries about persistent drought conditions in South America, while world wheat prices de- clined by 3.1 percent on the back of large harvests in Australia and Argentina. Lower harvests and steady purchases by Asian buyers led to a 3.1 percent monthly increase in international rice prices. The FAO Meat Price Index increased slightly in January, with world bovine meat prices reaching a new peak as global import demand exceeded export supplies, while ovine and poultry meat prices softened as exportable supplies outstripped import de- mand. Pig meat quotations rose slightly, in part due to rising input costs dampening global supply. Black Sea Grain to unite the leaders of grain & oilseed industry Global food prices continue to rise