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The FAO Cereal Price Index averaged 147.3 points in February, down fractionally (0.1 percent) from January and 2.0 points (1.4 percent) above its level one year ago. After falling for three consecutive months, international wheat prices rose marginally (0.3 percent) in February. The slightly firmer tone mostly reflected ongoing concerns over dry conditions in key production areas of Hard Red Winter wheat in the United States of America, and robust demand for supplies from Australia, while strong competition among exporters helped to cap price gains. World maize prices changed little, up just 0.1 percent month-on-month. Support stemmed from worsening conditions in Argentina, and planting delays for the second maize crop along with a strong export pace in Brazil, while low demand for supplies from the United States of America weighed on maize export prices. By contrast, among other coarse grains, world prices of sorghum were down fractionally (0.2 percent), while barley prices declined slightly (0.9 percent) in February, mostly attributed to higher seasonal availability in the southern hemisphere. On the other hand, international rice prices eased by 1.0 percent in February, as trading activities in most major Asian exporters slowed, while their national currencies depreciated against the United States dollar. This was especially the case in Thailand, where the baht weakened from the ten-month highs it reached in January, contributing to the reversal of most of the price increases registered in January.
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The FAO Vegetable Oil Price Index averaged 135.9 points in February, down 4.5 points (3.2 percent) from January and marking the lowest level since the beginning of 2021. The continued weakness of the index was driven by lower world prices across palm, soy, sunflowerseed and rapeseed oils. International palm oil prices dropped for the third consecutive month in February, chiefly weighed by lingering sluggish global import demand, despite seasonally lower production from major growing regions in Southeast Asia. Meanwhile, world soyoil prices also continued to decline, underpinned by softened purchases from key importing countries and prospects of rising outputs from South America. As for sunflower and rapeseed oils, world quotations remained on a downward trajectory, depressed by their abundant global exportable availabilities.
The FAO Meat Price Index* averaged 112.0 points in February, fractionally lower (0.1 points and 0.1 percent) from January and standing 1.9 points (1.7 percent) below its value a year ago. In February, international poultry meat prices fell for the eighth consecutive month, reflecting abundant global supplies compared to softer import demand, notwithstanding avian influenza outbreaks in several leading producer countries. By contrast, international pig meat prices increased, underpinned by market concerns over the low availability of slaughter-ready hogs amid rising internal demand in Europe. Meanwhile, bovine meat prices were stable, following continuous declines since June 2022, as improved import purchases, especially from North Asia, led global demand to balance relatively well with current supplies. International ovine meat prices also remained broadly unchanged, as global demand was adequate to absorb elevated supplies from Australia.
The FAO Sugar Price Index averaged 124.9 points in February, up 8.1 points (6.9 percent) from January, reaching the highest level since February 2017. The February rebound was mostly related to the downward revision to the 2022/23 sugar production forecast in India, which dampened export prospects for the current season. Concerns over lower export availabilities from India amid strong global import demand lent additional support to world sugar prices. However, the good harvest progress in Thailand and abundant precipitation in the key growing areas of Brazil prevented a larger monthly price increase. The decline in international crude oil price quotations and ethanol prices in Brazil also contributed to limit the upward pressure on world sugar prices.
If a Federal awarding agency or pass-through entity approves an extension, or if a recipient extends under 200.308(e)(2), the Period of Performance will be amended to end at the completion of the extension. If a termination occurs, the Period of Performance will be amended to end upon the effective date of termination. If a renewal award is issued, a distinct Period of Performance will begin.
For construction or facility improvement contracts or subcontracts exceeding the Simplified Acquisition Threshold, the Federal awarding agency or pass-through entity may accept the bonding policy and requirements of the non-Federal entity provided that the Federal awarding agency or pass-through entity has made a determination that the Federal interest is adequately protected. If such a determination has not been made, the minimum requirements must be as follows:
Unless otherwise approved by OMB, the Federal awarding agency must solicit only the OMB-approved governmentwide data elements for collection of financial information (at time of publication the Federal Financial Report or such future, OMB-approved, governmentwide data elements available from the OMB-designated standards lead. This information must be collected with the frequency required by the terms and conditions of the Federal award, but no less frequently than annually nor more frequently than quarterly except in unusual circumstances, for example where more frequent reporting is necessary for the effective monitoring of the Federal award or could significantly affect program outcomes, and preferably in coordination with performance reporting. The Federal awarding agency must use OMB-approved common information collections, as applicable, when providing financial and performance reporting information.
The non-Federal entity may concurrently receive Federal awards as a recipient, a subrecipient, and a contractor, depending on the substance of its agreements with Federal awarding agencies and pass-through entities. Therefore, a pass-through entity must make case-by-case determinations whether each agreement it makes for the disbursement of Federal program funds casts the party receiving the funds in the role of a subrecipient or a contractor. The Federal awarding agency may supply and require recipients to comply with additional guidance to support these determinations provided such guidance does not conflict with this section.
Upon taking any remedy for non-compliance, the Federal awarding agency must provide the non-Federal entity an opportunity to object and provide information and documentation challenging the suspension or termination action, in accordance with written processes and procedures published by the Federal awarding agency. The Federal awarding agency or pass-through entity must comply with any requirements for hearings, appeals or other administrative proceedings to which the non-Federal entity is entitled under any statute or regulation applicable to the action involved.
Costs to the non-Federal entity resulting from financial obligations incurred by the non-Federal entity during a suspension or after termination of a Federal award or subaward are not allowable unless the Federal awarding agency or pass-through entity expressly authorizes them in the notice of suspension or termination or subsequently. However, costs during suspension or after termination are allowable if:
This section provides principles to be applied in establishing the allowability of certain items involved in determining cost, in addition to the requirements of Subtitle II of this subpart. These principles apply whether or not a particular item of cost is properly treated as direct cost or indirect (F&A) cost. Failure to mention a particular item of cost is not intended to imply that it is either allowable or unallowable; rather, determination as to allowability in each case should be based on the treatment provided for similar or related items of cost, and based on the principles described in 200.402 through 200.411. In case of a discrepancy between the provisions of a specific Federal award and the provisions below, the Federal award governs. Criteria outlined in 200.403 must be applied in determining allowability. See also 200.102.
A conference is defined as a meeting, retreat, seminar, symposium, workshop or event whose primary purpose is the dissemination of technical information beyond the non-Federal entity and is necessary and reasonable for successful performance under the Federal award. Allowable conference costs paid by the non-Federal entity as a sponsor or host of the conference may include rental of facilities, speakers' fees, costs of meals and refreshments, local transportation, and other items incidental to such conferences unless further restricted by the terms and conditions of the Federal award. As needed, the costs of identifying, but not providing, locally available dependent-care resources are allowable. Conference hosts/sponsors must exercise discretion and judgment in ensuring that conference costs are appropriate, necessary and managed in a manner that minimizes costs to the Federal award. The Federal awarding agency may authorize exceptions where appropriate for programs including Indian tribes, children, and the elderly. See also 200.438, 200.456, and 200.475.
Termination of a Federal award generally gives rise to the incurrence of costs, or the need for special treatment of costs, which would not have arisen had the Federal award not been terminated. Cost principles covering these items are set forth in this section. They are to be used in conjunction with the other provisions of this part in termination situations.
On this site, the term "country" does not in all cases refer to a territorial entity that is a state as understood by international law and practice. As used here, the term also covers some territorial entities that are not states. Dependent territories of member countries are listed alphabetically followed by a description of the constitutional relationships with their member countries. 041b061a72