World food prices continued to rise in September

Published 2021년 10월 14일

Tridge summary

The article highlights the increase in the Food and Agriculture Organization (FAO) indexes for September, showing rising prices in grains, vegetable oils, dairy, and sugar, with the exception of meat. The Wheat prices have seen a significant increase due to decreased export opportunities and high demand. The Vegetable Oil Price Index surged due to high global demand and fears of labor shortage in palm production. The Dairy Price Index also increased due to strong import demand and seasonal factors in Europe and Oceania. The Sugar Price Index experienced a significant rise due to unfavorable weather conditions and increased ethanol prices in Brazil. However, the Meat Price Index remained unchanged from the previous month, but it was over 26% higher than the previous year.

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

Original content

The September increase in the index is mainly due to higher prices of most grains and vegetable oils, as well as dairy products and sugar. Only the meat price index remained unchanged in September, which is still over 1/4 higher than a year ago. The FAO Cereal Price Index rose by 2.0 percent in September compared with the previous month. Wheat prices have risen by nearly 4% amid declining export opportunities and strong demand, and are 41 percent higher than a year ago. Also in September, international rice prices rose, but maize prices only rose by 0.3 percent (38 percent year-on-year) due to the start of harvesting in the United States and Ukraine, almost offsetting the impact of hurricane disruptions in US ports. The FAO Vegetable Oil Price Index rose 1.7 percent for the month (60 percent from September 2020) due to strong global import demand and fear of a shortage of labor migrants who play an important role in palm production. Palm oil prices peaked in ten years. The ...

Source: Gospodarz