Global FAO Food price index records highest level in 10 years
Published Oct 8, 2021
Tridge summary
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.
Original content
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, supported by a slight improvement in trading activities, as did barley, which rose by 2.6%, driven by strong demand, lower production prospects in Russia and gains in other markets. On the other hand, corn prices remained stable, 0.3% above August, influenced by the upward pressure caused by the interruptions of ports hit by hurricane Ida, in the United States, which, however, was offset by better prospects ...
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