Global: The FAO Food Price Index continued to rise in September

Published 2021년 10월 9일

Tridge summary

The FAO Food Price Index experienced a 1.2% increase in September 2021, reaching its highest level since September 2011. This rise is attributed to a 2.0% increase in cereal prices, a 1.7% increase in vegetable oil prices, a 1.5% increase in dairy prices, and a stable meat price index from the previous month. The surge in cereal prices is due to an increase in wheat, rice, and barley prices, while corn prices remained stable. The vegetable oil price increase is mainly due to palm and rapeseed oil, despite a decrease in soybean and sunflower oil prices. Dairy prices rose due to high demand for skimmed milk powder and butter, and meat prices increased due to strong demand for sheep meat and limited beef and poultry supplies.

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

Original content

»The FAO Food Price Index averaged 130.0 points in September 2021, that is, 1.5 points (1.2%) more than in August and 32.1 points ( 32.8%) more than in the same month last year. Its latest rise was largely due to the rise in price of most cereals and vegetable oils. Dairy and sugar prices also rose, while the meat price sub-index remained stable. »The FAO Cereal Price Index registered an average of 132.5 points in September, that is, 2.6 points (2.0%) more than in August and 28.5 points (27.3 %) above the level recorded in September 2020. Among the major grains, world wheat prices rose the most in September, almost 4% month-on-month and up to 41% year-on-year. The reduction in exportable availabilities, amid strong world demand, kept upward pressure on international wheat prices. Rice prices rose in September to above their lowest levels in years in August 2021, sustained by a slight improvement in business activities. International barley prices also rose 2.6% in September, ...

Source: Castilla