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Ag Report: World food prices drop, trade meetings, and Hurricane Dorian farm aid

Posted: 9:27 AM, Sep 05, 2019
Updated: 2019-09-05 12:30:29-04

World food prices fell for a third month running in August according to the United Nations food agency. The Food and Agriculture Organization cereal price index plunged 6.4% in August thanks to big drops in the prices of wheat and major course grains especially corn. Sugar prices also fell markedly in August, dropping 4% on the previous month. These drops failed to offset climbs in other areas, with the vegetable oil price index gaining 5.9% and both meat and dairy prices posting increases of 0.5% in August.

China and the United States have agreed to hold high-level trade talks in early October in Washington. That's according to China's Commerce Ministry. trade teams from the two countries will hold talks in mid-September before the high-level talks next month. According to Reuters Washington began imposing 15% tariffs on an array of Chinese imports on Sunday. That prompted China to lodge a complaint against the United States at the World Trade Organization. The news comes amid fears that an escalating trade war could trigger a global economic recession.

The U.S. Department of Agriculture is reminding communities, farmers and ranchers, families and small businesses in the path of Hurricane Dorian that USDA has programs that provide assistance in the wake of disasters. USDA staff in regional, state and county offices stand ready and are eager to help. In a continuing effort to serve the public, USDA partnered with FEMA and other disaster assistance organizations and created the disaster resource center website located at USDA.gov/disaster. There you can find information on how to prepare yourself ahead of storms like Hurricane Dorian.