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World food prices jump in November – Report
World food prices rose significantly in November, reaching their highest point in more than two years, driven by jumps in the international prices of meat products and vegetable oils.
The FAO Food Price Index, which tracks monthly changes in the international prices of commonly-traded food commodities, averaged 177.2 points over the month, up 2.7 percent from October and 9.5 percent from the same period a year earlier.
The FAO Vegetable Oil Price Index rose by 10.4 percent in November, as palm oil price quotations rose amid robust global import demand, increased use for the production of biodiesels and expectations of possible supply shortages next year. Rapeseed and soy oil values also rose.
The FAO Meat Price Index increased by 4.6 percent, its largest month-on-month increase in more than a decade. Price quotations for bovine and ovine meats rose the most, buoyed by strong import demand, especially from China ahead of year-end festivities. Pig and poultry meat prices also rose.
The FAO Sugar Price Index rose by 1.8 percent from October, buoyed by mounting indications that world sugar consumption in the coming year will surpass production – which is being hampered by less-than-ideal growing conditions in Thailand, India, France and the United States of America.
The FAO Cereal Price Index, by contrast, declined by 1.2 percent amid stiff competition among the world’s leading wheat exporters. Rice values also fell while U.S. maize export prices remained under downward pressure even as those for Argentina and Brazil were generally firmer.
The FAO Dairy Price Index rose marginally from October, nudged up as milk production in Europe entered its seasonal low and global demand remained strong.
Record cereal production expected for 2019
FAO also released a new worldwide cereal production forecast for 2019, anticipating an all-time high harvest of 2 714 million tonnes, which would be 2.1 percent higher than in 2018.
The latest upward revision, contained in the new Cereal Supply and Demand Brief also released today, reflects higher-than-previously predicted coarse grain yields in China, the Russian Federation and Ukraine.
World output of coarse grains including maize is now forecast at 1 433 million tonnes, marginally short of the record level registered in 2017. After an upward revision for the European Union, global wheat production in 2019 is now forecast to rise by 4.8 percent from 2018 to reach 766.4 million tonnes. World rice production is likely to reach 515 million tonnes, a mere 0.5 percent drop from the record set in 2018, with Egypt, Madagascar and Nigeria all poised to spearhead a rebound for African rice production this season.
FAO’s world cereal utilization forecast for 2019/20 stands at 2 709 million tonnes, up around 21 million tonnes from the previous season. World cereal stocks at the close of seasons in 2020 are now expected to reach 863 million tonnes. At this level, the global cereal stock-to-use ratio would approach a relatively high level of 31 percent, underscoring a comfortable global supply situation.
World trade in cereals in 2019/20 is forecast at 416 million tonnes, some 1.1 percent higher than in 2018/19.
Weather hits cereal harvests in East and Southern Africa
There are 42 countries today in need of external assistance for food, according to FAO’s quarterly Crop Prospects and Food Situation report, also released today.
Compared to the September issue of the same report, Zambia, affected by drought conditions and record-high staple food prices, has been added to the list, which includes Afghanistan, Bangladesh, Burkina Faso, Burundi, Cabo Verde, Cameroon, Central African Republic, Chad, Congo, Democratic People’s Republic of Korea, Democratic Republic of Congo, Djibouti, Eritrea, Eswatini, Ethiopia, Guinea, Haiti, Iraq, Kenya, Lesotho, Liberia, Libya, Madagascar, Malawi, Mali, Mauritania, Mozambique, Myanmar, Niger, Nigeria, Pakistan, Senegal, Sierra Leone, Somalia, South Sudan, Sudan, Syrian Arab Republic, Uganda, Venezuela, Yemen, Zimbabwe.
The report also provides details on floods that followed earlier severe dryness, cutting harvest expectations in East Africa, and adverse weather conditions that caused a steep production decline in Southern Africa. Unfavorable harvests and significantly high staple food prices in Zimbabwe, set against an economy that has sharply deteriorated, will likely almost double the number of food-insecure people in the country during the first three months of 2020.
While the cereal output of Low-Income Food-Deficit Countries (LIFDCs) in Africa is expected to decline due to adverse weather that of LIFDCs in Asia is projected to increase, notably in Afghanistan and Syria.
News
Oyo Rep, Oseni Donates ₦50m to Sheikh Agbotomokekere Mosque Project
The lawmaker representing Ibarapa East/Ido Federal Constituency of Oyo State, Engr. Aderemi Oseni, on Thursday, donated the sum of fifty million naira (₦50 million) toward the construction of the proposed Sheikh Agbotomokekere Mosque building project.
Oseni joined other dignitaries, religious leaders, and Muslim clerics to honour the Chief Imam of Ibadanland, Grand Imam of Oyo State, and Grand Patron of the League of Imams and Alfas of Yorubaland, Edo, and Delta States, His Eminence Sheikh AbdulGaniy Abubakre Agbotomokekere, during the annual Maolud Nabiyy celebration at the Ibadan Central Mosque, Oja Oba.
It was during the event that he announced the generous donation.
The Maolud Nabiyy celebration, organised by the Al-Imam Agbotomokekere Islamic Foundation, also featured the unveiling of the proposed mosque project and an award presentation ceremony.
Delivering an insightful lecture at the event, the Chief Imam of Ogbomosoland, Dr. Yunus Tolhat Ayilara, who served as the Guest Lecturer, highlighted the importance of perseverance in the face of challenges.
In a statement issued on Friday by his media aide, Idowu Ayodele, the lawmaker, who also chairs the House Committee on the Federal Roads Maintenance Agency (FERMA), reaffirmed his commitment to supporting initiatives that strengthen the spiritual and social development of his constituency and state.
He commended the Al-Imam Agbotomokekere Islamic Foundation for its dedication to fostering a sense of community through faith, education, and shared values.
According to him, the mosque project symbolises unity and the determination of the people.
Reflecting on the significance of the proposed Agbotomokekere Mosque, the APC chieftain described it as a beacon of unity and religious harmony.
“This mosque project reflects our shared values and our commitment to building a community grounded in faith, love, and unity. I am honoured to contribute to this vision and support the Agbotomokekere Foundation in its efforts to promote peace and spiritual growth,” Oseni stated.
News
Customs Surpasses Revenue Target with N5.7 tn Collection
The Nigeria Customs Service (NCS) has announced a record revenue collection of N5.7 trillion as of November 12, 2024, surpassing its yearly target by 10 percent.
This was disclosed by the Comptroller-General of Customs, Adewale Adeniyi, at the ongoing 2024 Comptroller-General of Customs Conference in Abuja.
Themed “Nigeria Customs Service: Engaging Traditional and New Partners with Purpose,” the conference showcased the Customs Service’s progress in modernizing its operations and fostering collaborative partnerships.
“Today, I stand before you to demonstrate how our commitments in 2023 have evolved into tangible achievements,” Adeniyi stated.
He attributed the revenue growth to a series of reforms, including the implementation of a one-stop solution for cargo alerts, a revamped ICT infrastructure, streamlined inspection procedures, and enhanced automation.
Adeniyi explained that these changes reflect the agency’s commitment to elevating operational transparency and efficiency.
“We pledged to re-align our free trade operations, elevate cargo integrity standards, and expand our scanning capacities,” he said.
“Above all, we promised to usher in a new era of customs operations—one built on transparency, efficiency, and genuine collaborations with our partners.”
As of Tuesday, November 12, Adeniyi confirmed that the NCS collected N5.07 trillion, achieving the anticipated 10 percent revenue surplus.
“This performance validates our partnership-driven approach to revenue collection and trade facilitation,” he added.
Adeniyi also highlighted recent strides in trade facilitation, revealing that six companies have been selected to benefit from the Authorised Economic Operators programme, which provides fast-tracked customs clearance and other trade facilitation benefits.
Similarly, the NCS has processed 21 requests under an advance ruling programme, designed to expedite customs decisions on import and export cargoes before they reach Nigerian ports.
The Comptroller-General expressed optimism about the NCS’s potential to drive further economic growth, citing the agency’s commitment to fostering partnerships and advancing innovative practices within the customs sector.
News
Half of Shortlisted Directors Fail Federal Permanent Secretary Exam
Nineteen out of the thirty-eight directors who were shortlisted to fill permanent secretary vacancies within the Federal Civil Service have failed the qualifying examination, a memo from the Office of the Head of Civil Service of the Federation (OHCSF) revealed on Tuesday.
The memo, signed by Dr. Emmanuel Meribole on behalf of the examination committee, disclosed that the qualifying exam was conducted on Monday, November 11, 2024.
The Federal Government, through the OHCSF, launched the recruitment drive in October to fill permanent secretary vacancies in eight states.
Providing insights into the progress, Eno Olotu, Director of Press at OHCSF, stated, “Of the 38 eligible directors who sat for the exam, 19 have passed the first stage and will move on to the second stage, which will assess their competency in using Information and Communication Technology (ICT) in government operations on Wednesday, November 13, 2024.”
Olotu highlighted the rigorous three-stage selection process, designed to ensure that only the most capable individuals are appointed to these high-ranking civil service roles.
This comprehensive approach, according to OHCSF, aims to elevate the quality of leadership across federal ministries.
The directors who advance beyond the ICT proficiency test will face a final stage on Friday, November 15, 2024, where a panel of senior government officials and private sector experts will conduct a final evaluation to determine their suitability for the permanent secretary positions.
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