World Food Price Index Higher Progress for 8 consecutive months rise

Published 2021년 2월 7일

Tridge summary

The World Food Price Index experienced its eighth consecutive month of growth in January, reaching 113.3 points, a 4.3% increase from the previous month. This rise is attributed to higher prices in all categories including cereals, oils, dairy products, meat, and sugar. The increase in grain prices is largely due to China's bulk purchasing and supply shortages in the United States and Argentina. The price of palm oil reached a 8.5-year high due to lower production in Indonesia and Malaysia. Meat prices increased, particularly poultry, due to export restrictions from countries with avian influenza. Dairy products and sugar also saw price increases, with sugar prices rising due to concerns about a decrease in global supply and an uptick in crude oil prices. The FAO forecasts a slight increase in global grain production for 2020-2021, but concerns about domestic industry challenges and international grain supply and demand are being discussed to alleviate industry burdens.

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

Original content

January World Food Price Index 113.3p… 4.3% higher than the previous month, all items such as grains, oils and fats, dairy products, meat, sugar, etc. All items rose The world food price index showed an eighth consecutive month's rise until last month. The Ministry of Agriculture, Food and Rural Affairs, citing the Food and Agriculture Organization of the United Nations (FAO) on the 7th, announced that last month's World Food Price Index rose 4.3% from the previous month to 113.3 points (p). It has risen for eight consecutive months since last June. Last month, all items including cereals, oils and fats, dairy products, meat and sugar rose. Grain sales rose 7.2% MoM to 124.2p. In the case of corn, the price of corn increased as China's bulk purchase overlapped with supply shortages such as low production in the United States and temporary suspension of exports in Argentina. Rice prices have risen due to the continued high demand in Asia and Africa, and wheat sales from Russia are ...

Source: Donga