California Snowpack & Reservoirs Improved and Gas Prices Up Again
From the Ag Information Network, this is your Agribusiness Update.
**California’s snowpack has reached 110% of its seasonal average, up from 28% of average on January 1, according to the state Department of Water Resources.
The April 1 measurement was closely watched because it’s an indicator of peak seasonal snowpack and signals the transition to spring snowmelt.
The snowpack survey results came after state and federal water officials increased water allocations due to storms that improved snowpack and reservoir levels.
**The United Nations Food and Agricultural Organization’s Food Price Index was 118.3 points in March, up 1.3 points or 1.1% from its revised February level.
The rise in prices was driven by higher price indices for vegetable oils, dairy products, and meat, which slightly offset decreases in those for sugar and cereals.
Before March, following a seven-month-long decline, the index was down almost 10 points from the same time last year.
**After a week in which the national average held unchanged, gas prices resumed their climb, rising 6.5 cents compared to a week ago at $3.57 per gallon.
The national average is up 17.1 cents from a month ago but nearly a penny lower than a year ago.
The national average diesel price increased 3.1 cents and stands at $4.02 per gallon, 15 cents lower than a year ago.
