Global Food Prices Hit 10-Year High In 2021: UN Agency
NDTV
Food prices: Grain prices rose by 27%, hitting a level not seen since 2012, with corn prices soaring 44.1% and wheat rising 31.3%. Meat prices rose by an average of 12.7% in 2021.
Global food prices reached a 10-year high in 2021, rising by an average of 28 per cent compared to the previous year, the UN's Food and Agricultural Organization said Thursday.
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.
"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," FAO Senior Economist Abdolreza Abbassian said in a statement.
