FAO Food Price Index rises for the ninth consecutive month in February

Published 2021년 3월 4일

Tridge summary

Global food commodity prices have been on a consistent rise for nine consecutive months, with February marking a 2.4% increase from the previous month and a 26.5% increase from the year before, as reported by the Food and Agriculture Organization of the United Nations (FAO). This surge is attributed to the higher prices of sugar and vegetable oils, with the Sugar Price Index climbing by 6.4% and the Vegetable Oil Price Index by 6.2%. The FAO also anticipates a record wheat output of 780 million tonnes in 2021, aiming to break previous records, despite challenges in production forecasts for the Russian Federation. The report also points out the urgent need for external assistance in 45 countries to address food insecurity, with the FAO's Markets and Trade Division highlighting an increase in aggregate cereal import requirements for Low-Income Food Deficit Countries, reaching 74.1 million tonnes for the 2020/21 marketing year.

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Original content

Global food commodity prices rose for the ninth consecutive month in February, with quotations for sugar and vegetable oils increasing the most, the Food and Agriculture Organization of the United Nations (FAO) reports today. The FAO Food Price Index, which tracks monthly changes in the international prices of commonly-traded food commodities, averaged 116.0 points in February, 2.4 percent higher than the previous month and up 26.5 percent from a year ago. The FAO Sugar Price Index rose by 6.4 percent from January, as production declines in key producing countries together with strong import demand from Asia prompted ongoing concerns over tighter global supplies. Expectations of a production recovery in Thailand and a bumper crop in India dampened the increase. The FAO Vegetable Oil Price Index gained 6.2 percent, reaching its highest level since April 2012. Prices for palm, soy, rape and sunflower seed oils all rose. The FAO Dairy Price Index rose by 1.7 percent, led by ...

Source: Hellenic Shipping News