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UN records increased world prices for food products

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UN records increased world prices for food products
January 09
13:00 2020

The UN Food and Agriculture report says that December food prices have risen to their highest levels in 5 years.

The increased demand for palm oil and sugarcane, used to produce biofuel, caused the growth. The price index of goods in this category is 181 points. This is 2 points higher than the November figure, and the largest mark since 2014.

Last year, the index was equal to 171 points. This is approximately 2% more than in 2018, but a quarter lower than the maximum indicator recorded in 2011.

The dairy price index has grown by more than 3%. The rising cheese prices are the reason for the growth. The prices went up 8% due to lower exports from the EU and Oceania.

The December Grain Index has risen almost 1.5%. Wheat began to grow in price due to increased demand for imports to the PRC, as well as supply problems in France, where protests have been going on for a long time. The cost of corn and rice is the same.

The December meat price index is 190 points. It has not changed much since November.

The price index is an average indicator, the task of which is to control changes in world prices for the 5 main food groups.


The material was prepared with the participation of Katya Wilson,
a leading analyst of the brokerage company UFT Group

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