FAO: World food prices rise to 10-year high

Published 2021년 11월 4일

Tridge summary

The United Nations' Food and Agriculture Organization (FAO) has reported that international food prices have reached a new high, surpassing levels seen in July 2011. The FAO Food Price Index, which tracks the prices of key food items, increased by 3% in October compared to September, marking a third consecutive month of growth. This increase was led by a 3.2% rise in the Cereals Price Index, attributed to crop issues in major exporting countries, and a 9.6% surge in the Vegetable Oil Price Index, largely due to palm oil shortages in Malaysia. In contrast, the Meat Price Index fell by 0.7%, with pork and beef prices decreasing due to reduced demand from China and Brazil, respectively. However, poultry and mutton prices rose due to strong global demand. The average value of the FAO Sugar Price Index saw a 1.8% decline from September, influenced by low global import demand and anticipated exports increases from India and Thailand.

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Original content

International food prices climbed to a new peak, exceeding the July 2011 level. This was reported by the Food and Agriculture Organization of the United Nations (FAO). So, in October, the average value of the FAO Food Price Index, which allows you to monthly track fluctuations in world prices for the most popular food products, amounted to 133.2 points, which is 3% higher compared to its September level; thus, the growth of this Index continues for the third month in a row. Compared to the previous month, the FAO Cereals Price Index rose 3.2% in October, due to deterioration in crop types in major exporting countries, including Canada, the Russian Federation and the United States of America, and a decrease in global supply prices. wheat jumped 5%. Compared to the previous month, an increase in world prices was also recorded for the rest of the main types of grain. The FAO Vegetable Oil Price Index rose 9.6% in October, reaching the highest level ever recorded. This growth was ...

Source: AgroPortal.ua