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World food prices at record high in 2022, says FAO


Wheat, corn, sunflower: with the war in Ukraine, world food prices have reached their highest levels for the whole of 2022...

Wheat, maize, sunflower: with the war in Ukraine, world food prices have reached their highest ever levels for the whole of 2022, the United Nations Food and Agriculture Organization announced on Friday. agriculture (FAO).

The FAO Food Price Index, which tracks the change in international prices of a basket of commodities, continued its decline for the ninth consecutive month, falling 1.9% in December and falling even below its level of a year ago.

“Highest levels ever recorded”

In March, world food prices reached their "

highest levels on record

" according to the FAO, as Russia's invasion of Ukraine upended markets and raised the risk of a global food crisis.


World prices for wheat and maize reached record levels during the year

," the UN agency said, with Ukraine being a major producer of cereals, but also of sunflower oil.

The average value of the FAO vegetable oil price index also reached a record for the year, when those of meat and dairy products even reached “

their highest annual levels since 1990


The prices of food products have then started falling again since April, for nine consecutive months.

Prices remain “at high levels”

The December FAO index averaged 132.4 points, falling 1% below its level of a year ago in December 2021. “

However, for 2022 as a whole (... ) the index averaged 143.7 points, or 14.3% more than the average value for 2021

,” the FAO points out.


It is a good thing that food prices are calming down after two very volatile years

," Máximo Torero, FAO's chief economist, said in a statement, adding that it was essential to "

remain vigilant and focus on alleviating global food insecurity



Global food prices remain at high levels, with many commodities near record highs, rice prices rising, and still many risks associated with future supplies

," he said.

The vegetable oil price index, down 6.7%, drove the monthly decline in December.

It falls to its lowest level since February 2021, as prices for palm, soybean, rapeseed and sunflower oils all fell in December.

The FAO Cereal Price Index is down 1.9% from November, due to greater post-harvest wheat availability in the southern hemisphere and a drop in world wheat prices. maize, except rice.

Source: lefigaro

All business articles on 2023-01-06

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