Food prices in the world remained at their peak

Published 2021년 12월 2일

Tridge summary

The United Nations' Food and Agriculture Organization (FAO) has reported that the Food Price Index has reached its highest level since June 2011, with a 1.2% monthly increase and an 27.3% annual increase. This rise is primarily due to a 3.4% increase in the Dairy Price Index, driven by high demand for butter and milk powder, and a 3.1% increase in the Cereal Price Index, influenced by concerns about wheat supply and potential export changes in Russia. In contrast, the Meat Price Index fell by 0.9%, continuing a four-month decline. The FAO also predicts a slight increase in global grain trade to 480 million tons in 2021/22, despite anticipating a decrease in grain stocks. The report also highlights the need for foreign aid for food in 44 countries, including 33 African nations, due to conflicts and droughts, as well as indicates varying trends in grain production and harvest forecasts for 2022 across different regions.

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

Original content

The Food Price Index published by the Food and Agriculture Organization of the United Nations (FAO) saw its highest level since June 2011 with 134.4 points. The index, which monitors the monthly changes in the international prices of widely traded food products in global markets, increased by 1.2 percent on a monthly basis and increased by 27.3 percent on an annual basis. The FAO Dairy Price Index increased by 3.4 percent in November compared to the previous month, causing the overall rise of the index. Anticipating the contraction in the market, strong demand from buyers to secure spot supplies for butter and milk powder triggered the global import trend for these two products. FAO Cereal Price Index increased by 3.1 percent in November compared to the previous month and increased by 23.2 percent compared to the previous year. While the increase in corn prices remained limited, wheat prices saw the highest level since May 2011. Rice prices, on the other hand, remained stable. Low ...

Source: TRBloomberg