FAO: World food prices rise for the tenth month in a row

Published 2021년 4월 9일

Tridge summary

The Food and Agriculture Organization of the United Nations (FAO) has reported a tenth consecutive month of rising global food prices, with the FAO Food Price Index reaching its highest level since June 2014 in March. This increase is largely due to higher quotations for vegetable oils and dairy products. The FAO also expects global cereal production to grow for the third year in a row in 2021, with a projected all-time high global wheat production of 785 million tonnes. However, global cereal stocks are expected to decline at the end of 2021, and the FAO has raised its forecast for global cereal trade for the 2020-2021 season to 466 million tonnes, up 5.8 percent from a year earlier.

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Original content

According to the data published on 08.04. The Food and Agriculture Organization of the United Nations (FAO), in March recorded another rise in world food prices, which has been going on for the tenth consecutive month; the most significant growth was observed in the quotations of vegetable oils and dairy products. In March, the average value of the FAO Food Price Index, which tracks fluctuations in world prices for the most traded food products on a monthly basis, was 118.5 points, up 2.1 percent from the previous month; this is the highest value of this Index since June 2014. Quotations of various goods changed in different directions. The bulk of the gain was due to the increase in the FAO Vegetable Oil Price Index, which rose 8.0 percent from the previous month and reached an almost 10-year high; soybean oil prices rose particularly sharply, driven in part by expected strong demand from biodiesel producers. The FAO Dairy Price Index was up 3.9 percent from its February ...

Source: Agrovesti