Global food commodity prices rose to a nearly six-year high in November. FAO also trims its cereal crop forecasts and notes 45 countries need external assistance for food
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3 December 2020, Rome - Global food commodity prices rose sharply in November to their highest level in nearly six years, according to a benchmark United Nations report released today. The FAO Food Price Index averaged 105.0 points during the month, up 3.9 percent from October and 6.5 percent higher than its value a year earlier. The monthly increase was the sharpest since July 2012, putting the index at its highest level since December 2014, the Food and Agriculture Organization said. The FAO Food Price Index tracks changes in the international prices of the most globally traded food commodities. All of its sub-indices rose in November. The FAO Vegetable Oil Price Index gained a stunning 14.5 percent in the month, led by an ongoing rally in palm oil prices linked to sharp contractions in world inventory levels. The FAO Cereal Price Index rose 2.5 percent from October and averaged 19.9 percent higher than in November 2019. Wheat export prices rose, linked to reduced harvest ...
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