World Food Price Index continues to rise

Published 2021년 6월 7일

Tridge summary

The United Nations' Food and Agriculture Organization (FAO) has reported a 4.8% increase in the world food price index in May, reaching 127.1 points. This rise is attributed to several factors, including high demand, insufficient supply, and production revisions in key countries. Specifically, the price of grains, including corn, has risen due to high demand and reduced supply, while the price of wheat has fluctuated based on crop conditions. The price of oil and fat, including palm and soybean oil, has increased due to slow production growth and high global demand. Meat and dairy products prices have also increased due to high demand and limited supply, particularly in import markets. In response to these price increases, the Ministry of Agriculture, Food and Rural Affairs is strengthening inspection and communication efforts to monitor the situation and stabilize prices.

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

Original content

The world food price index continues to rise. According to the Food and Agriculture Organization of the United Nations (FAO), the world food price index recorded 127.1 points last month, up 4.8 percent from the previous month's 121.3 points. As a result, the World Food Price Index recorded 113.3 points in January, 116.4 points in February, 119.1 points in March, and 121.3 points in April, showing an upward trend. Grains recorded 133.1 points, up 6.0% from the previous month. Corn prices have risen sharply due to high demand amid insufficient international supply and downward revisions to Brazil's production outlook. On the other hand, the price of wheat rose early last month, but fell due to improved crop conditions in the EU and the US, while the price of rice hardly fluctuated due to trade restrictions linked to logistics and transportation costs. Oil and fat recorded 174.7 points, up 7.8% from the previous month. Palm oil prices rose due to a slowdown in production growth in ...

Source: Aflnews