Food prices continue uprising

Global food prices increased for the eighth consecutive month in February, with prices of all commodity groups monitored rising again, except for sugar, FAO said today.

Thursday, March 3, 2011

» The FAO Food Price Index (FFPI) rose for the eighth consecutive month, averaging 236 points in February 2011, up 2.2 percent from January and the highest (in both real and nominal terms) since January 1990, the inception date of the index. Except for sugar, prices of all other commodity groups monitored registered gains in February with dairy products and cereals climbing the most.

» The FAO Cereal Price Index averaged 254 points in February, up 3.7 percent from January and the highest since July 2008. The increase in February mostly reflected further gains in international maize prices, driven by strong demand amid tightening supplies, while prices rose marginally in the case of wheat and fell slightly in the case of rice.

» The FAO Dairy Price Index averaged 230 points in February, up 4 percent from January, but well below its peak in November 2007. Firm world demand continues to underpin prices. The earthquake recently registered in New Zealand, a major supplier, did not seem to have affected world availability of dairy products.

» The FAO Oils/Fats Price Index rose marginally to 279 points in February, standing just below the peak recorded in June 2008. The slight increase is in contrast to a series of sharp increases since last year, reflecting a recovery in global supply prospects.

» The FAO Meat Price Index averaged 169 points in February, up 2 percent from January, owing to higher quotations for prices of pig meat (Europe) and sheep meat (Oceania). The trend in rising beef prices appears to have stalled due to import disruptions in several key markets.

» By contrast, the FAO Sugar Price Index averaged 418 points in February, slightly below the previous month but still 16 percent higher than this time last year. International sugar prices remain high and volatile, mostly driven by tight supplies in major sugar exporting countries.

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Food: Global Prices up to February 2018

March 2018

In February, the FAO food price index fell by almost 3% in year-on-year terms, due to a drop in prices of sugar and vegetable oils.

From the monthly report on the FAO food price index: 

The FAO food price index stood in February 2018 at an average of 170.8 points, that is to say, 1.1% (or 1.8 points) more than in January, although it is still 2.7% less than its value in the same period last year. Higher international prices for dairy products and cereals contributed to the inter-monthly rise in the value of the index, while prices for sugar and vegetable oils declined and meat prices remained stable. 

Food: Global Prices Up 8% in 2017

January 2018

The FAO food price index closed the year with an increase of 8% compared to 2016, the highest annual average since 2014, although it is still 24% below the maximum levels reached in 2011.

From the monthly report on the FAO food price index:

The FAO Food Price Index* (FFPI) averaged 169.8 points in December 2017, down 5.8 points (3.3 percent) from November with the steepest declines registered in the prices of dairy, vegetable oils and sugar while those of cereals and meat also fell but only slightly. For the whole of 2017, the FFPI averaged 174.6 points, up 8.2 percent from 2016 and representing the highest annual average since 2014 although still 24 percent below the 2011 high of almost 230 points. While sugar values plummeted in 2017, dairy and meat prices registered sharp year-on-year increases and those of cereals and oils rose too, albeit more modestly.

Global Food Prices in March 2016

April 2016

The FAO food price index rose slightly in March due to sharp increases in prices of sugar and palm oil.

From a press release by the Food and Agriculture Organization:

The FAO Food Price Index* (FFPI) averaged 151.0 points in March 2016, up 1.0 percent from February, but almost 21 points (12.0 percent) below its March 2015 level.

Global Food Prices in February 2016

March 2016

The FAO Food Price Index averaged 150.2 points in February 2016, nearly unchanged from January, but 14.5% below February 2015.

From a statement issued by the Food and Agriculture Organization:

The FAO Food Price Index* (FFPI) averaged 150.2 points in February 2016, nearly unchanged from January, but 25.6 points (14.5 percent) below February 2015.

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