UN food and Agriculture Organization: Global food prices rose in January

2022-07-16 0 By

China News Service Beijing, February 3 (reporter Liu Liang)Global food prices rose in January, mainly due to tight vegetable oil supplies, data from the United Nations Food and Agriculture Organization showed Wednesday.The FAO Food Price Index averaged 135.7 points in January, up 1.5 points (1.1 percent) from December 2021.The FAO vegetable oil price index rose 4.2 per cent in January from The previous month, reversing a decline in December and setting a new high, while driving the overall food price index upward.The FAO noted that lower export supplies and other supply-side constraints, notably Labour shortages and adverse weather conditions, had pushed vegetable oil prices to record highs.The impact of the above constraints may continue in the short term.The FAO Dairy Price Index rose 2.4 percent, the fifth consecutive monthly increase.The FAO grain price index rose slightly in January from December, up 0.1 percent.The FAO meat price index edged up in January.Fao sugar prices were the only index to fall in January.India and Thailand, big sugar exporters, are expected to produce well.In addition, factors such as improved rainfall in Brazil’s main producing regions and lower ethanol prices pushed sugar prices down 3.1 percent in January from the previous month.Fao has also revised its forecast for world cereal production in 2021 to 2.793 billion tons, down 0.8 percent year on year.The latest FAO Cereal Supply and Demand Brief, released on the same day, predicts that global wheat production will remain the same in 2021 as in 2020.Global cereal consumption is expected to increase by 1.6 percent year-on-year in 2021-2022, while the world cereal stocks-to-consumption ratio is likely to fall to 28.7 percent, down slightly from last year but still at historically good levels.Fao’s latest forecast for world cereal trade in 2021-2022 is 481 million tonnes, an increase of 0.4 percent from the previous trading year and a record high.Disclaimer: This article is reproduced for the purpose of passing on more information.If the source is wrong or violated your legitimate rights and interests, please contact the author with proof of ownership, we will promptly correct, delete, thank you.Email address: newmedia@xxcb.cn