World food prices keep rising, especially dairy

Published 2021년 4월 9일

Tridge summary

The Food and Agriculture Organization (FAO) of the United Nations reported a 2.4 point increase in its price index to 118.5 points in March, marking the highest level since July 2014. This increase is primarily due to a surge in vegetable oil prices by 8%, the highest in almost ten years. Despite the rise in the general price index, the FAO's grain price index experienced a 1.8% drop in March but remains 26.5% higher than the previous year. The dairy price index also increased by 3.9%, with butter prices rising due to supply constraints in Europe, and milk powder prices increasing due to decreased production in Oceania and the scarcity of sea containers in Europe and North America. The FAO anticipates a record grain harvest, with preliminary data suggesting an increase in production this year, especially in the European Union.

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

Original content

The FAO price index, which measures the monthly price changes of grains, oilseeds, dairy products, meat and sugar, rose 2.4 points to 118.5 points in March. The index reached its highest level since July 2014. The price development varies per type of commodity. The rise in the general price index was mainly driven by that of vegetable oil. It rose by no less than 8 percent to a high point in almost ten years. The FAO also said that the prediction made earlier for a record grain harvest remains valid. However, it was added that provisional data even point to a further increase in production this year, also in the European Union. The FAO grain price index fell 1.8 percent in March, but is still 26.5 percent higher than a year ago. The FAO dairy price index rose 3.9 percent, with ...

Source: Nieuwe Oogst