The food price index since January fell by 1%, the indices of vegetable oil, meat and cereals also note a decrease.
New Delhi: Exports of dairy products, meat and grains from India in the coming months could plummet, as the Food and Agriculture Organization recorded a decline in world food prices in February.
Powdered milk is made from ordinary cow by evaporation of moisture in a vacuum. In this case, water evaporates from the milk and a dry powder is obtained in the residue.
The food price index, which tracks monthly changes in international prices for commonly sold food products, averaged 180.5 points in February, which is 1% less than in January, according to a monthly report on Thursday.
Although the indicators for vegetable oil, meat and grain crops decreased by 10.3%, 2% and 0.9% compared with January, the indices for dairy products and sugar rose by 4.6% and 4.5%, respectively.
The fall in February is the first in 4 months. Of course, the index rose 8.5% year on year.
As some of these products form important components in Indian exports, a drop in their world prices may affect the economy.
“Prices for skimmed milk powder and whole milk powder have declined due to a slowdown in purchases by China, the world's largest importer of dried milk, due to delays in cargo handling at ports,” the report said.
India is the world's largest exporter of milk powder. In 2018-19, the export of Indian dairy products grew by 126%, which is approximately 3.6 billion US dollars.
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