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World food prices hit 10-year peak in 2021 -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: A customer walks past a fruit vendor at Mexico City’s Street Market, Mexico, December 17, 2021. REUTERS/Luis Cortes/File Photograph

PARIS (Reuters), – The December world food price declines were a result of four monthly increases, but they rose 28% in 2021 to reach the highest level since 2011.

Food and Agriculture Organization’s Food Price Index (FAO) tracks the international prices of most commonly traded food commodities. It averaged 133.7 points for December, and a revised 134.9 in November.

The number for November was originally given as 134.4

In 2021 the average benchmark index reached 125.7 points. This is an improvement of 28.1% on 2020 and the best since 20131.9.

This is due to harvest setbacks in the last year and high demand. The monthly index now stands at 10 years of its highest point. [GRA/]

The prices of food products decreased in December with the exceptions of milk products. However, vegetable oils and sucrose fell significantly according to the agency.

It added that however, each category showed significant increases over 2021.

Inflation has also risen as economic activity rebounded from the coronavirus epidemic.

FAO warns that rising food costs in import-reliant countries could put poorer people at risk.

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