World staple food prices soared in January to their highest level since July 2014, led by higher prices for grains, oils and sugar, the United Nations Agency for Food and Agriculture said on Thursday. agriculture and food (FAO).
Read also: The 2020 Nobel Peace Prize goes to the World Food Program
The FAO Food Price Index, which tracks monthly changes in international prices for the most commonly traded food products (sugar, oils, grains, dairy products, meat) averaged 113.3 points in January , up 4.3% from December 2020, its highest level since July 2014, FAO said.
Soaring sugar and corn
It is sugar which soared the most in January, with an increase of 8.1% compared to December, due to climatic factors, "
fears about availability
", and the rise in oil and gas prices. Brazilian real.
On cereals, the indicator rose by 7%, led by the monthly jump of 11.2% in corn prices, which rose by more than 40% over the year.
The maize surge is due to both China's huge appetite and “
tight global supply
” with lower than expected stock estimates in the United States and a temporary suspension of exports to Argentina.
Wheat prices rose 6.8% in January, as the world's leading exporter, Russia, decided to double its export tax in March, thus reducing its sales.
Upward trend also on rice, maintained by a "
strong demand from Asian and African buyers
".
Side vegetable oils, the monthly increase amounted to 5.8%, its highest level since May 2012, specifies the FAO.
It is due to "
lower than expected palm oil production in Indonesia and Malaysia, due to excessive rains and a persistent shortage of migrant workers, as well as prolonged strikes in Argentina
".
The impact of bird flu
Dairy prices rose 1.6% monthly, supported by "
large purchases from China in the run-up to New Year's Eve celebrations, alongside the seasonal decline in New Zealand's exportable supplies
."
Finally, the FAO meat price index was up 1% compared to December, due to "
strong world imports of poultry meat, especially from Brazil
", while "
epidemics of avian flu have limited production and exports from several European countries
”.
