World food prices soared 28% in 2021

The food price index of the United Nations Food and Agriculture Organization (FAO) reached an average of 125.7 points in 2021, 28.1% more than the previous year, as reported this Thursday the body. The FAO explains that this rate in December averaged 133.7 points, which represents a 0.9% decrease compared to November – due to the notable drop in the international prices of vegetable oils and sugar since their previous high levels – but it is still 23.1% more than in December 2020.

“While high prices are normally expected to lead to increased production, high input costs, the current global pandemic and conditions of increasing climatic uncertainty leave little room for optimism regarding the recovery of more stable trading conditions, even in 2022 ″ laments FAO Senior Economist Abdolreza Abbassian.

The cereal price index fell 0.6% since November due to lower prices of wheat for export as a result of an increase in supplies after harvests in the southern hemisphere that more than offset the rise in corn prices, sustained by strong demand and concerns over the persistent drought in Brazil. For the year as a whole, however, it reached its highest level since 2012 and was on average 27.2% more than in 2020.

The vegetable oil price index fell 3.3% in December, but in 2021 it marked its highest level of all time, with an increase of 65.8% since 2020. Sugar prices fell, for their part, 3.1% in December from November, but increased in 2021 by 29.8% compared to the previous year and reached its highest point since 2016. Meat, for its part, remained at stable values ​​in December, although a 12.7% higher than those registered at the end of 2020. The dairy products sub-index was the only sub-index that increased in December, 1.8% compared to November, while in 2021 it was 16.9% higher than in 2020 .

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