Independent Ukrainian News Agency, June 4: FAO released news and said due to sufficient grain supply and less demands during the epidemic, the global grain price has kept dropping for four months in a row, and now slumped to the minimum point in recent 17 months.

In May this year, the global grain price dropped 1.9% quarter on quarter, equaling to the level in December 2018. The price of dairy products dropped 7.3% on QoQ basis, and reduced nearly 20% on YoY basis. FAO pointed out this is caused by less import demands and seasonal factors. In the meantime, the petroleum price soared and sugar output in India, the largest producing country and Thailand the second largest producing country lowered, so the sugar price increased 7.4% quarter on quarter. The price of meats dropped 0.8% on QoQ basis, and reduced 3.6% on YoY basis. The grain price dropped 1% and vegetable oil dropped 2.8%, the lowest in the recent 10 months. FAO experts predicted that the global grain yield in the new reason will increase 2.6%, reaching the new record of 2.78billion ton.