FAO: World food prices rise after two months of price decline

Published 2021년 9월 2일

Tridge summary

The United Nations' Food and Agriculture Organization (FAO) has reported a global surge in food prices in August, marking the second rise this year after a two-month decline. The FAO Food Price Index experienced a 3.1% increase from July and a 32.9% increase from the previous year, led by higher prices for sugar, wheat, and vegetable oils. The rise in sugar prices was attributed to concerns over frost damage in Brazil, while wheat prices increased due to decreased crop availability in major exporting countries. However, corn prices fell despite potential crop improvements in other regions. The meat price index saw a marginal rise, largely driven by China's purchasing activities, while the dairy price index dipped slightly due to lower milk powder quotations.

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Original content

The rapid rise in world food prices was recorded in August after two consecutive months of decline. According to a report by the Food and Agriculture Organization of the United Nations (FAO), there has been a significant increase in international quotations for sugar, wheat and vegetable oils. The FAO Food Price Index averaged 127.4 points in August, up 3.1% from July and 32.9% over the same period in 2020. The FAO Sugar Price Index rose 9.6% from July amid fears over frost damage in Brazil, the world's largest sugar exporter. Good crop prospects in India and the European Union, as well as declining crude oil prices and a weaker Brazilian real, helped contain price increases. The FAO Vegetable Oil Price Index rose 6.7% in August, while international palm oil prices peaked again, driven by continued concerns about lower-than-potential production levels and the resulting decline in stocks in Malaysia. Rapeseed and sunflower oil quotes also rose. The average value of the FAO Cereal ...

Source: AgroPortal.ua