World food prices hit new highs above July 2011 levels

Published Nov 7, 2021

Tridge summary

Global cereal production may reach historic highs amid declining stocks The Food and Agriculture Organization of the United Nations (FAO) reported that international food prices rose to a new peak, exceeding the July 2011 level. In October, the average value of the FAO Food Price Index, which tracks fluctuations in world prices for the most traded food items on a monthly basis, was 133.2 points, up 3 percent from its September level; thus, the growth of this Index continues for the third month in a row. Compared to the previous month, the FAO Cereal Price Index rose 3.2 percent in October, driven by deterioration in crop varieties in major exporting countries, including Canada, the Russian Federation, and the United States of America, and lower global supply prices, wheat jumped 5 percent.

Original content

Global cereal production may reach historic highs amid declining stocks The Food and Agriculture Organization of the United Nations (FAO) reported that international food prices rose to a new peak, exceeding the July 2011 level. In October, the average value of the FAO Food Price Index, which tracks fluctuations in world prices for the most traded food items on a monthly basis, was 133.2 points, up 3 percent from its September level; thus, the growth of this Index continues for the third month in a row. Compared to the previous month, the FAO Cereal Price Index rose 3.2 percent in October, driven by deterioration in crop varieties in major exporting countries, including Canada, the Russian Federation and the United States of America, and lower global supply prices. wheat jumped 5 percent. Compared to the previous month, an increase in world prices was also recorded for the rest of the main types of grain. The FAO Vegetable Oil Price Index rose 9.6 percent in October, the highest ...

Source: Zol