Up 9.8%! Global rice prices hit 15-year high

NO.1 Global rice prices hit a new high in 15 years

The latest data released by the Food and Agriculture Organization of the United Nations (FAO) show that the food price index except rice and sugar all fell, and the international food price index fell back in August.

However, the FAO rice price index rose 9.8% month-on-month in August, hitting a nominal high in 15 years, reflecting the impact on trade after India, the world's largest rice exporter, implemented a rice export ban in July.

FAO also stated that the uncertainty about the duration of the export ban and concerns about export restrictions have caused all parties in the supply chain to hold on to inventory and begin to renegotiate contracts or stop quotations, resulting in current trade being mostly small-volume transactions or previously concluded transactions. Sale.

NO.2 Sales in the German consumer electronics market fell by 7% in the first half of the year

According to GfK data, sales in the German consumer electronics market are declining after experiencing explosive growth during the epidemic. In the first half of 2023, sales in the German consumer electronics market fell by 7% year-on-year. The cautious purchasing attitude of Germans has curbed the growth momentum of consumer electronics.

It is worth noting that the purchasing behavior of Germans has changed significantly since May last year. Reasons for the shift include: saturated demand, rising energy and living costs, and low consumer appetite. Now, Germans tend to buy new appliances just to replace old ones that are broken, rather than to update and upgrade products (during the epidemic). Overall, Germans spent 5% more on consumer electronics in the first half of this year than in 2019.

NO.3 The Fed’s one-year inflation forecast for the United States rose to 3.6%

According to a survey by the Federal Reserve, U.S. consumers' inflation expectations were generally stable in August, but those surveyed were more worried about their financial situation and more pessimistic about the job market.

The one-year U.S. inflation outlook in August rose slightly from 3.5% to 3.6%, the three-year inflation outlook fell slightly from 2.9% to 2.8%, and the five-year inflation outlook rose slightly from 2.9% to 3.0%.

NO.4 The EU lowers Italy’s economic growth forecast for this year and next

The European Commission released the 2023 Summer Economic Outlook Report, lowering Italy's economic growth forecast for this year and next, from the previous 1.2% and 1.1% to 0.9% and 0.8% respectively.

Data released by the Italian National Statistics Institute on the 11th showed that excluding seasonal factors, the country’s industrial output fell by 0.7% month-on-month in July and 2.1% year-on-year. With the exception of the energy industry, output in all major industrial sectors declined.

In addition, affected by the European Central Bank's interest rate hike, according to statistical results released by the Bank of Italy on the 11th, the country's corporate and household loans decreased by 1.7% month-on-month and 2.3% year-on-year in July. Among them, household loans decreased by 0.3% year-on-year, and non-financial corporate loans decreased by 4%.

NO.5 AliExpress launches next-day delivery service in Spain

AliExpress, a subsidiary of Alibaba Group, has launched a next-day delivery service in Spain. The service has received much praise from consumers since its launch in September.

This new service allows buyers on the Madrid platform to enjoy next-day delivery for purchases in other cities such as Alicante, Barcelona, ​​Malaga, Murcia, Seville, Valencia and Zaragoza Orders placed before 14:00 pm can also enjoy the fast delivery service of the next day.

The next-day delivery service will be available for "thousands of items" sold on AliExpress, including products from the "AliExpress Select" program, which will offer free shipping for purchases of 5 products and 3 products for 99 euros.AliExpress partners with local logistics providers such as DHL and Correos to provide next-day delivery services.