Tridge summary
The United Nations' Food and Agriculture Organization (FAO) has reported a 4.8% increase in the global food price index in May, compared to April, marking a 39.7% rise from the same period last year. This marks the 12th consecutive month of growth, driving the index to its highest level since September 2011. The increase is attributed to higher prices in all categories, including oils, sugar, grains, meat, and dairy products. Notably, maize prices have surged due to poor harvest forecasts in Brazil, while rice prices have remained stable. The rise in dairy, meat, and sugar prices is largely due to increased demand and production issues, particularly in Brazil. Despite these trends, there is optimism for a decrease in grain prices if supply increases. However, the FAO index does not directly reflect the prices of vegetables and fruits, which are crucial in the Polish market. The article also discusses the potential impact of bird flu and other local factors on food prices in Poland.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
The food price index calculated by the Food and Agriculture Organization of the United Nations (FAO) rose in May to 127.1 points. At the same time, it was 5.8 points, or 4.8%, higher than in April and as much as 36.1 points, i.e. 39.7%, higher than in the same period last year. This is the 12th consecutive month of growth. It pushed the food price index to the highest level since September 2011. The month-on-month growth in May was the largest since October 2010. - We are close to breaking the record level of the index, i.e. 137.6 points - says Jakub Olipra, economist at Credit Agricole Polska , an expert on the agri-food market. - The longest series of price increases in the history of the FAO index publication, ie since the beginning of the 1990s, took place in 2007 and lasted 14 months. Only three months of growth are nowhere to be beaten - he adds. The May increase in the index was made up of all its components, i.e. the prices of oils, sugar, grains, meat and dairy products. ...
Source: Rp
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