Food Prices on a Spike For 10 Months in a Row - FAO

The Food and Agriculture Organization (FAO) reported on Thursday that world food prices have increased for the tenth consecutive month as the prices of vegetable oil, meats, and dairy products skyrocketed.

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According to FAO, March registered the highest food prices since 2014 and an increment of 2.1 percent compared to February 2021. Moreover, palm oil, soybeans, rapeseed, and sunflower increased their value remarkably.

On the other hand, the sale of cereals decreased by 1.7 percent compared to February, and the price of sugar plummeted by four percent during the last two months. However, dairy products reached a 3.9 percent increment in March and an estimated 16 percent difference to the same period the previous year.

As the economies of several Asian countries recover, the imports, mainly in China, boosted the demand for poultry and pork meat.