UN: World food prices peaked in October

Published 2021년 11월 4일

Tridge summary

The United Nations' Food and Agriculture Organization (FAO) has reported that international food prices have reached a new high, surpassing levels last seen in July 2011. The FAO Food Price Index, which tracks the prices of widely traded food items, increased by 3% in October, marking its third consecutive month of growth. This increase is attributed to higher prices of cereals, vegetable oils, dairy products, and sugar, with palm oil experiencing the most significant rise. In contrast, meat prices have fallen for three months in a row. The FAO also forecasts that while global cereal production is expected to hit record levels in 2021, global stocks for the 2021-2022 harvest are projected to decline.

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Original content

The Food and Agriculture Organization of the United Nations (FAO) announced today that international food prices have risen to a new peak, exceeding their levels since July 2011. In October, the average value of the FAO Food Price Index, which tracks fluctuations in world prices of the most traded food items on a monthly basis, was 133.2 points, which is 3% or 3.9 points more than in September. ; thus, the growth of this index continues for the third consecutive month. Compared to the previous month, FAO's cereal price index rose 3.2 percent in October due to deteriorating crop varieties in major exporting countries, including Canada, the Russian Federation and the United States, and lower global delivery prices. Wheat jumped 5 percent. Compared to the previous month, an increase in world prices was reported for the other main types of grain. The FAO vegetable oil price index rose 9.6 percent in October, the highest in history. This growth is due to the increase in quotations for ...

Source: Agroplovdiv