Global Food Prices Hit Highest Level in Almost Seven Years
The FAO Food Price Index (FFPI) averaged 113.3 points in January 2021, 4.7 points (4.3 percent) higher than in December 2020, not only marking the eighth month of consecutive rise but also registering its highest monthly average since July 2014. The latest increase reflected strong gains in the sugar, cereals and vegetable oils sub-indices, while meat and dairy values were also up but to a lesser extent.
The FAO Cereal Price Index averaged 124.2 points in January, marking a sharp increase of 8.3 points (7.1 percent) from December and the seventh consecutive monthly rise. International maize prices increased significantly, surging by 11.2 percent in January, up 42.3 percent above their January 2020 level, reflecting...
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