FAO: Food prices have continued to rise

Published 2021년 4월 8일

Tridge summary

The United Nations' Food and Agriculture Organization (FAO) has reported that its food price index has surged by 2.1% in just one month, reaching its highest level since June 2014. This increase is largely due to record prices for vegetable oils and a rise in the cost of dairy, meat, and sugar. In contrast, cereal prices have seen a decrease. The surge in meat prices is attributed to increased Chinese imports and the European Easter holiday demand. However, beef prices have remained stable, with sheep becoming cheaper due to dry weather forcing farmers to sell. The FAO also forecasts an expansion in world grain emissions for the third year in a row, with increased production estimates in several countries due to improved weather conditions.

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

Original content

The FAO food price index, which tracks the monthly change in the prices of the most internationally important foods, has risen 2.1% since February, reaching its highest level since June 2014. Looking more closely at the index, you can see different movements for each product group. The increase in March can be attributed to vegetable oils, which, with their 8% monthly rise in prices, broke a nearly 10-year record. Soybean oil prices have risen sharply, in part due to rising demand from the biodiesel sector. With the rise in the price of butter, the price of dairy products also increased internationally (+ 3.9%) due to limited European supply and stronger demand. Milk powder prices also rose due to import demand from Asia (mainly China), which could not be met by declining production in the Pacific and scarce European and North American container capacities. The FAO meat price index also rose - by 2.3% compared to February, driven by rising Chinese imports and demand during the ...

Source: Agrarszektor