Tridge summary
The Food Price Index of the United Nations' FAO reached a decade-high average of 130 points in September, an increase of 1.2% from August and 32.8% from the same month in 2020. This increase is largely due to higher prices of cereals and vegetable oils. The Cereals price sub-index also reached its highest level in over a decade, driven by increases in wheat, rice, and barley prices. The Vegetable Oils price sub-index also rose, largely due to higher prices of palm and rapeseed oils. The Meat price sub-index remained stable, but was 26.3% higher than September 2020, with international sheep and beef prices rising due to strong demand and limited supply. The Dairy price sub-index also increased, driven by high demand and limited export availability, especially from Europe. Finally, the Sugar price sub-index increased due to concerns about reduced production in Brazil.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
The Food Price Index of the Food and Agriculture Organization of the United Nations (FAO) reached an average of 130 points in September, an increase of 1.5 points (1.2%) compared to August and 32.1 points (32.8% ) compared to the same month in 2020. The monthly result, according to FAO, is the highest level in a decade and was driven, in large part, by the higher prices of most cereals and vegetable oils. The dairy and sugar price index was also firmer, while the meat price sub-index remained stable. The Cereals price sub-index recorded an average of 132.5 points in September, up 2.6 points (2%) compared to August and 28.5 points (27.3%) higher than in September 2020. According to the organization, among the main cereals, international wheat prices increased the most, almost 4% month-on-month and 41% compared to 2020. “The narrowing of exports amid strong global demand continued to pressure international wheat prices ”, highlighted the FAO. Rice prices also rose in the month, ...
Source: PortalDBO
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