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UN reports record world food prices

Source : 112 Ukraine

The world price for food products during the year increased by 30%
18:09, 4 November 2021

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For 10 years, world food prices have reached a record as the Food and Agriculture Organization (FAO) of the United Nations reported.

"The FAO Food Price Index in October 2021 is 3% higher since September and 31% higher since October 2020. After rising for three months in a row, the October price index stood at its highest level since July 2011," the statement says.

It is noted that the price of cereals (rice, corn, barley, wheat) increased by 22.4% over the year, and by 3.2% over the month. And by 38.3% in 10 years. This is due to a decrease in yields from large suppliers and an increase in prices for premium varieties.

Related: Eggs, bread, sugar are new black caviar: What will happen to food prices in Ukraine?

The record indicator is the growth in the price of vegetable oils. Consequently, in October over the month, the price increased by 9.6%. The growth was grounded by tighter price quotations for palm, soybean, sunflower and rapeseed oil.

The price of dairy products has increased by 2.2% since September, and by 15.5% over the year. The price of meat for the month decreased by 0.7%, which is three monthly price reductions. However, the price increased by 22.1% over the year. The cost of sugar for the month for the first time in half a year decreased by 1.8%. The decrease in price is due to the global supply of the product from India and Thailand.

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