FAO: World food prices rise to record levels since 2011

February 3, Minsk. World food prices have risen to a record level since April 2011, mainly due to rising prices for vegetable oil and dairy products. It is reported by RIA Novosti with reference to a press release from the Food and Agriculture Organization of the United Nations (FAO).

The world food price index in January rose by 1.1% compared to December, to 135.7 points. In particular, the price index for vegetable oil rose by 4.2% versus December, or by 7.4 points, to 185.9 points. Increased prices for palm, soybean, rapeseed and sunflower oil.

Dairy products also rose in price, the price index for which in January rose by 2.4%, or 3.1 points, to 132.1 points. The index has been growing for the fifth month in a row. The prices for powdered and regular milk , as well as butter, rose the most.

The grain price index rose slightly in January - by 0.1 points to 140.6 points. Corn rose the most, up 3.8%, on fears of a continuing drought in the Southern Hemisphere. Rice rose 3.1% in the light of a reduced crop while maintaining strong demand.

Meat also rose in price, the corresponding index rose to 112.6 points from 111.3 points a month earlier. Beef prices hit record highs as demand outpaced export supply. Pork quotations rose slightly, while lamb and poultry prices continued to fall despite covid supply restrictions.