FAO: World food prices up for the 10th consecutive month

Published 2021년 4월 9일

Tridge summary

For the tenth month in a row, the United Nations Food and Agriculture Organization (FAO) has reported a global rise in food prices, with the FAO food price index reaching its highest level since June 2014 at 118.5 points in March, a 2.1% increase from February. This surge is primarily due to higher prices for vegetable oils and dairy products, with soybean oil and dairy prices increasing by 8% and 3.9% respectively. The rise in dairy prices is attributed to increased demand for butter in Europe and a decrease in powdered milk availability. Meat prices also saw a 2.3% increase, led by pork and poultry. In contrast, the cereal price index experienced a 1.8% decline, with wheat prices falling due to an abundance of supply and positive production forecasts for 2021. Finally, the sugar price index dropped by 4% due to anticipated large exports from India, but remains over 30% higher than last year.

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

Original content

For the tenth consecutive month, food prices have risen around the world, with vegetable oils and dairy products driving the rise. The news was announced by the United Nations Food and Agriculture Organization. In detail, the FAO food price index reached an average value of 118.5 points in March, which represents an increase of 2.1% compared to the previous month, as well as the highest data recorded by June 2014. The trend was different depending on the types of food products. Triggering the March hike was the FAO Vegetable Oil Price Index, which rose 8% from February, reaching its highest value in nearly 10 years, with soybean oil prices rising. showed a surge, partly due to forecasts of stable demand from the biodiesel sector. The FAO price index of dairy products is also growing, which has increased by 3.9% since February, with butter prices pushed upwards by the squeeze on supplies in Europe, associated with the increase in demand in anticipation of a recovery in the ...

Source: Cia