World food prices have reached a record high in 10 years

Published 2021년 10월 9일

Tridge summary

The Food and Agriculture Organization of the United Nations (FAO) has reported that the average value of its food price index reached a 10-year high of 130 points in September, due to increases in the prices of grain, vegetable oil, dairy products, and meat. The grain price index rose by 2% compared to August, with world wheat prices up by 4% and corn prices up by 3%, largely due to high demand and improved harvest forecasts. Vegetable oil prices also increased by 1.7%, with world palm oil prices reaching a ten-year high due to strong demand and labor shortages in Malaysia. The dairy price index rose to 117.9 points, with prices for skimmed milk powder and butter increasing the most, and the meat price index remained high, exceeding the previous year's indicator by 26.3%.

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Original content

This is evidenced by the report of the Food and Agriculture Organization of the United Nations (FAO). "The average value of the FAO food price index reached 130 points in September, thus updating the record level for 10 years," the statement said. Note that the grain price index in September increased by 2% compared to August. In particular, world wheat prices continued to rise and added 4%. This is 41% higher than last year and caused by high demand for products. Also, corn prices increased by 3% (by 38% year on year) against the background of improved harvest forecasts in the United States and Ukraine. In addition, vegetable oil prices rose by 1.7% in September, but by 60% year on year. World palm oil prices are reaching ten-year highs due to strong demand and labor shortages in Malaysia. Prices for rapeseed oil also increased, while prices for sunflower and soybean oil decreased. "The price index for dairy products rose to 117.9 points. Prices for skimmed milk powder and butter ...

Source: Agravery