After food prices fell globally in June and July, prices rose again in August, 32.9% above the level recorded in the same month in 2020, the Agriculture and Food Organization said. food. The food price index, calculated by the UN agency and reflecting the monthly changes in the prices of basic cereals and vegetable oils, dairy and meat products, as well as sugar, increased by 3.1% compared to July to 127.4 points. The organization clarifies that the increase in the index is mainly due to higher prices for sugar, vegetable oils and cereals.
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Last month, the cereals sub-index rose by 3.4% from July to 129.8 points, now 31.1% above its level in August 2020. Due to the worsening prospects for the harvest of large producers, world wheat prices increased by 8.8% on a monthly basis. For other cereals, however, the picture was colorful. The lowering of the forecasts for the barley harvest, especially in Canada and the USA, as well as the rise in the price of wheat led to an increase in the international quotations for barley by 9% compared to July. However, maize prices fell 0.9% as improving harvest prospects in Argentina, the European Union and Ukraine offset worsening production forecasts in Brazil and the United States. In vegetable oils in August an average growth of the sub-index was reported from 6.7% to 165.7 points and it reached a 6-month high. The basis for the increase in the sub-index is the rise in price of palm and rapeseed oil and sunflower oil. The rise in palm oil prices is due to continuing fears that it ...
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