agency Food price index, which tracks monthly changes in world prices, averaged 125.7 points, up 28.1% over 2020.
FAO Senior economist Abdolreza Abbassian explained that high prices are generally expected to decline as production increases to match demand.
This time, however, the persistently high cost of resources, the ongoing global pandemic and increasingly volatile climatic conditions “leave little room for optimism about a return to more stable market conditions even in 2022“.
the end of the year
At the end of the year, world food prices fell slightly, as world prices for vegetable oils and sugar fell significantly, the data show.
The food price index averaged 133.7 points, down 0.9% on November, but still up 23.1% on the same month last year. Only dairy products have shown gains this month.
The cereal price index also fell 0.6%; however, for the whole year it reached its highest annual level since 2012, an increase of 27.2%.
Most of all added in the price of corn, which rose in price by 44.1%, and wheat, which rose in price by 31.3%. One of the world’s other staple foods, rice, has lost 4 percent.
Butter and sugar
The Vegetable Oil Price Index fell 3.3 percent in December on weaker global import demand, which may be related to concerns about the impact of growth COVID-19 cases that led to delays in the supply chain.
In general for the year, The oil index reached an all-time high, increasing 65.8% compared to 2020.
Another key product, sugar, fell 3.1% last month from November, hitting a five-month low.
FAO analysts said this reflects concerns about the impact of the Omicron option on global demand, as well as a weaker Brazilian real coupled with lower ethanol prices.
Overall, the sugar price index rose 29.8% over the year, reaching its highest level since 2016.
Meat and dairy products
The meat price index was “broadly stable” in December, but rose 12.7% overall over the year.
Dairy products were the only category where prices rose in the last month of the year, up 1.8% from November, mainly due to declining milk production in Western Europe and Oceania.
Cheese prices declined slightly last month, but overall for the year the dairy price index is on average 16.9% higher than in 2020.