FAO Food Price Index climbs for the tenth consecutive month

Published 2021년 4월 9일

Tridge summary

The FAO Food Price Index experienced its tenth consecutive monthly increase in March 2021, reaching its highest level since June 2014. This rise was primarily driven by increases in the vegetable oil, meat, and dairy product indexes, while the cereal and sugar indexes saw a decline from the previous month. The vegetable oil price index reached its highest level since June 2011, largely due to rising prices of palm, soybean, rapeseed, and sunflower oils. The dairy price index also saw a significant increase, marking its tenth consecutive rise, with international butter prices increasing due to the start of the European milk season and concerns about milk powder supply. The meat price index also rose, driven by increased imports in Asian countries, especially China, and the anticipation of Easter sales in Europe. Despite concerns about tight global supply, the sugar price index saw a decrease in March, driven by India's prospects for large-scale exports.

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

Original content

The FAO Food Price Index averaged 118.5 points in March 2021, an increase of 2.4 points (2.1%) from the previous month. This marks the tenth consecutive month that the index has risen and has climbed to its highest level since June 2014.3 The monthly index rise was mainly driven by strong growth in the vegetable oil, meat and dairy product indexes, while the cereal and sugar indexes fell. To The FAO Cereal Price Index averaged 123.6 points in March, a decrease of 2.2 points (1.7%) from the previous month. Although it reversed the eight-month continuous rise, it was still 25.9 points (26.5%) higher than the same period last year. Among the major cereals, 3 The export price of wheat in January led the decline by a 2.4% decline, still rising by 19.5% year-on-year. The month-on-month decline in wheat prices mainly reflects the overall good supply of food crops in 2021 and the optimistic outlook for production. International corn and barley prices have also fallen, despite China’s ...

Source: Foodmate