UN says food prices hit 10-year high in 2021

The UN’s Food and Agricultural Organization has declared that the Global food prices have reached a 10-year high in 2021, rising by an average of 28 per cent compared to the previous year,

Reports say the FAO’s Food Price Index, which tracks monthly changes in the international prices of commonly-traded food commodities, dipped slightly in December.

However, at 133.7 points, it remained close to the record of 137.6 points it set in February 2011.

The index stood at 125.7 points for the year as a whole, also the highest in a decade.

FAO Senior Economist Abdolreza Abbassian said in a statement that “While normally high prices are expected to give way to increased production, the high cost of inputs, ongoing global pandemic and ever more uncertain climatic conditions leave little room for optimism about a return to more stable market conditions even in 2022.”

New study explores food prices around the world | The Pig Site
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