Friday, May 7, 2021

World food prices still rising

World food prices rose for the 11th consecutive month in April 2021, hitting their highest level since May, 2014.


The Food and Agriculture Organization's (FAO) food price index averaged 120.9 points last month compared with a revised 118.9 points in March. The previous March figure was 118.5.


FAO's cereal price index was 26 per cent higher than a year ago, the vegetable oils index 1.8 per cent higher than in March and the dairy price index 1.2 per cent higher than March.


FAO raised its forecast for global cereal production in 2020 by 1.7 million tonnes to 2.767 billion tonnes, 2.1 per cent more than in 2018.


The UN agency also provided its first outlook for wheat in the 2021/22 season, forecasting production at 778.8 million tonnes, up by a half of one per cent over 2020.


It expects corn will lead an increase in feed grains production.