Global food prices “dramatically” rise in 2021-a global problem

The agency’s Food price indexThe average price that tracks the monthly changes in international prices is 125.7 points, an increase of 28.1% over 2020.

FAO Senior economist Abdolreza Abbassian explained that normally, as production increases to meet demand, high prices are expected to ease.

However, this time, continued high input costs, continued global pandemics and more turbulent climatic conditions “have Even if it returns to more stable market conditions in 2022, there is little room for optimism. ”

End of the year

Data show that world food prices fell slightly at the end of the year, and international vegetable oil and sugar prices fell sharply.

The food price index averaged 133.7 points, down 0.9% from November, but still up 23.1% from the same month last year. Only dairy products rose that month.

The cereal price index also fell by 0.6%; however, for the entire year, it reached its highest annual level since 2012, an increase of 27.2%.

The biggest increase was for corn, which rose 44.1%, and wheat, which rose 31.3%. The price of rice, one of the world’s other major staple foods, has fallen by 4%.

Oil and sugar

The vegetable oil price index fell by 3.3% in December due to the decline in global import demand, which may be related to concerns about the impact of rising oil prices Coronavirus disease Cases leading to delays in the supply chain.

Looking at the whole year, The oil index hit a record high, rising 65.8% compared to 2020.

Another major staple food sugar dropped 3.1% last month from November, reaching a five-month low.

FAO analysts said that this shows that the market is concerned about the impact of the Omicron variant on global demand, as well as concerns about the weakening of the Brazilian real and lower ethanol prices.

For the whole year, the sugar price index rose by 29.8%, reaching the highest level since 2016.

Meat and dairy products

The meat price index was “roughly stable” in December, but it rose by 12.7% for the year.

Dairy products are the only category whose prices have risen in the last month of this year, rising 1.8% in November, mainly due to the decline in milk production in Western Europe and Oceania.

The price of cheese fell slightly last month, but for the whole year, the dairy product price index is 16.9% higher than in 2020 on average.