World food prices fell in January for a 10th consecutive month, and are now down some 18% from a record high hit last March following Russia's invasion of Ukraine, the United Nations food agency said on Friday. The Food and Agriculture Organization's (FAO) price index, which tracks the most globally traded food commodities, averaged 131.2 points last month against 132.2 for December. Falls in the prices of vegetable oils, dairy and sugar helped pull down the index, while cereals and meat remained largely stable, the FAO said.
MUMBAI (Reuters) -Sugar mills in India's top producing state Maharashtra are set to stop cane crushing 45 to 60 days earlier than last year as heavy rain has curtailed sugar cane availability, a senior state government official told Reuters on Friday. The western state of Maharashtra, which accounts for more than a third of the country's sugar output, could produce 12.8 million tonnes of sugar in the 2022/23 marketing year that began on Oct. 1, down from an earlier forecast of 13.8 million tonnes, Maharashtra's sugar commissioner Shekhar Gaikwad said. Lower sugar output could prevent the world's second-biggest exporter from allowing additional exports, potentially supporting global prices and allowing rivals Brazil and Thailand to increase their shipments.
India is likely to produce 34.3 million tonnes of sugar in 2022/23, down 4% from the previous forecast, after sugar cane yields in key producing states were hit by adverse weather, a senior industry official told Reuters on Tuesday. Lower sugar output could limit exports from the world's second-biggest exporter, lifting global prices and allowing rivals Brazil and Thailand to increase their shipments. India, the world's biggest sugar producer, had produced a record 35.9 million tonnes of sugar in the previous season, which ended on Sept. 30.