FAO

    • World food prices slump for first time in a year

      World food prices slump for first time in a year

      United Nations food agency (FAO) announced that world food prices posted in June their first fall in 12 months. The decline in prices was largely driven by cheaper vegetable oils in addition to cheaper cereals and dairy products, Reuters elaborated. FAO also said that worldwide harvests of cereals would result in almost nearly 2.817bn tonnes in 2021. That estimate is slightly weaker than previously forecast, but still on course to hit an annual record.

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    • UN warns of record food prices surging

      UN warns of record food prices surging

      The United Nations Food and Agriculture Organisation warned of possible global food shortage amid soaring costs related to pandemic, Reuters reported. The costs of imports monitored by FAO are seen soaring by 12% this year. The spike in costs is driven by extremely high demand in lockdown periods. The world's food import costs, which include shipping charges, is projected to reach to a record $1.715 trillion this year, from $1.530 trillion in 2020, FAO elaborated in its twice-yearly Food Outlook report.

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    • Global food prices soar in May

      Global food prices soar in May

      Global food prices surged in May at its fastest pace since October 2010, BBC reported. The foods rose by 39.7 % on monthly basis, a report by the UN Food and Agriculture Organisation (FAO) showed. The robust growth of prices was largely due to pandemic restrictions which disrupted deliveries in some parts of the world. The UN uses a broad index of global food costs, which have also climbed for 12 months in a row.

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