World food prices hit record highs in the invasion of Ukraine


Food and Agriculture Organization (FAO), a specialized agency of the United Nations , has set a new record high in the Food Price Index.

FAO Food Price Index | World Food Situation | Food and Agriculture Organization of the United Nations

Russia's invasion pushed global food prices to record high

The FAO Food Price Index (FFPI), set by FAO to monitor trends in the international agricultural market, averages the prices of grains, vegetable oils, dairy products, meats, and sugar by export volume. The calculated price index.

No. 8 Special Analysis Topic ① ︓ FAO Food Price Index ︓ FAO Food Price Index ―― Ministry of Agriculture, Forestry and Fisheries
(PDF file)

It is a hot topic that this FFPI has reached the highest price in about 30 years since 1990 due to Russia's invasion of Ukraine. The following is the price transition of FFPI from January 2019 to February 2022 released by FAO, and it is visual that the price of FFPI shown on the Y-axis side reached an unprecedented level in 2022. It is shown in.

Detailed data is below. The Food Price Index is the FFPI value, Meat is the meat, Dairy is the dairy product, Cereals is the grain, Vegetables Oils is the vegetable oil, Sugar is the sugar price, and the annual FFPI is listed from 2004 to 2020. However, after 2021, monthly FFPI is listed.

Looking at 2022, FFPI was 135.6 points from the beginning of the year, which was a high value not seen in the past 20 years, but reached a record high of 159.3 points in March. Prices for each category are 120.0 points for meat, 145.2 points for dairy products, 170.1 points for cereals, 248.6 points for vegetable oils and 117.9 points for sugar, and vegetable oils are unrivaled.

FAO's analysis of soaring vegetable oil prices said, 'The international market for sunflower oil soared in March 2022 as exports declined due to ongoing conflicts in the Black Sea region. This decline in sunflower oil exports caused palm oil, As demand for soybean oil and rapeseed oil increased, these international prices also surged. ' Ukraine is known as the world's largest producer of sunflower oil and safflower oil, accounting for 48% of the world's supply as of 2019. Russia is the second largest source of sunflower oil and safflower oil, accounting for 22% of the world's supply.

An analysis of cereals, which showed a rise in prices next to vegetable oil, said: 'The rise in prices in March 2022 reflects the soaring prices of wheat and coarse-grained cereals, and the conflict disrupts exports from Ukraine and Russia. It is expected that exports from the Black Sea region will be cut off, which will put an additional burden on the supply capacity of wheat, which was already in a tight situation. '

in Junk Food, Posted by darkhorse_log