FAO: Nine months of rising world food prices

Published Mar 4, 2021

Tridge summary

The United Nations' Food and Agriculture Organization (FAO) has reported a rise in international food prices for the ninth consecutive month, with the food price index increasing by 2.4% and 26.5% from the previous year. This increase is due to higher prices for sugar and vegetable oils, despite stabilization in Thailand and India. Dairy and cereal prices also saw an increase, while meat prices rose slightly. The FAO also anticipates a record wheat production in 2021. However, many countries require external food aid due to import demand and potential near-drought conditions in certain countries.

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

Original content

For nine months now, food prices have become more expensive on international markets, especially sugar and vegetable oils, the Food and Agriculture Organization of the United Nations (FAO) has reported. The FAO food price index, which tracks the monthly change in food prices, the most internationally significant, rose 2.4%, 26.5% from a year ago. After shrinking production in major producing countries and putting strong demand pressure on the market in Asia, the sugar price index rose above 6%. The expected recovery of production in Thailand and the outstanding harvest in India have somewhat dampened the rise in prices. The price of vegetable oils has reached an unprecedented level since April 2012 with a 6.2% rise in prices. They also asked for more for palm, soybean, canola and sunflower oil. The FAO dairy price index rose 1.7% as China’s demand for butter soared, coupled with scarce Western European stocks. Meanwhile, cheese prices have fallen, mainly as a result of ample U.S. ...

Source: Trademagazin