Italy: Covid has pushed food prices to record highs for the decade

Published 2021년 6월 4일

Tridge summary

Global food prices have reached a ten-year high, according to Coldiretti's analysis of the FAO index, due to a significant increase in the prices of vegetable oils, sugar, cereals, dairy products, and meat. This surge, the result of consecutive increases over the past year, is attributed to the COVID-19 pandemic's impact on trade, hoarding, speculation, and climate change. The European Union is responding by considering comments for a food self-sufficiency plan. Meanwhile, Italy, with its weak self-sufficiency and reliance on foreign supplies, is grappling with the crisis in the agricultural sector. Coldiretti suggests focusing on green jobs, ecological transition, and digitalization to mitigate these challenges and strengthen Italy's food safety and quality.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The prices of food products have reached a worldwide peak for almost ten years, driven by the sharp rise in prices for vegetable oils, sugar and cereals. This is what emerges from the Coldiretti analysis based on the FAO index of agricultural raw material prices in May 2021, which reached its maximum value since September 2011. This is - underlines Coldiretti - the result of a year of consecutive increases with the FAO index which reached an average value of 127.1 points, which constitutes an increase of 39.7 percent compared to May 2020. - Coldiretti specifies - international cereal prices have increased by 36.6% compared to the same month of the previous year, while dairy products have risen by 28% compared to last year but the 10% jump should also be noted in meat prices. With the Covid pandemic - continues Coldiretti - a scenario of reduction in trade, hoarding, speculation and uncertainty due to the effects of climate change has opened up, which pushes the race of individual ...

Source: Coldiretti