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The world food price index rose for the 12th consecutive month in May, the highest since September 2011.
This is mainly driven by the rising prices of vegetable oils , sugar and grains .
The FAO World Food Price Index in May averaged 127.
1 points, which was 4.
8% higher than the April revised index of 121.
3 points (previously reported as 120.
9 points), and 39.
7% higher than in May 2020, which was only the highest nominal value in history.
The value is 7.
6% lower.
1 points, which was 4.
8% higher than the April revised index of 121.
3 points (previously reported as 120.
9 points), and 39.
7% higher than in May 2020, which was only the highest nominal value in history.
The value is 7.
6% lower.
In terms of sub-indices, the cereal price index in May rose 6.
0% from April and 28% higher than the same period last year, because the international corn price rose 89.
9% higher than the same period last year.
But at the end of May, corn prices began to pull back because of improved US production prospects.
International wheat prices also experienced a correction at the end of the month, but the average wheat price in May was still 6.
8% higher than that in April; international rice prices remained stable.
0% from April and 28% higher than the same period last year, because the international corn price rose 89.
9% higher than the same period last year.
But at the end of May, corn prices began to pull back because of improved US production prospects.
International wheat prices also experienced a correction at the end of the month, but the average wheat price in May was still 6.
8% higher than that in April; international rice prices remained stable.
The vegetable oil price index in May rose by 7.
8% compared with April, because the prices of palm oil, soybean oil and rapeseed oil rose.
8% compared with April, because the prices of palm oil, soybean oil and rapeseed oil rose.
The sugar price index rose by 6.
8% in May compared to April, mainly due to the delayed harvest in Brazil and the decline in yields.
However, India’s large exports have helped to contain price increases.
8% in May compared to April, mainly due to the delayed harvest in Brazil and the decline in yields.
However, India’s large exports have helped to contain price increases.
The meat product price index rose by 2.
2% month-on-month in May, because China's import pace has accelerated and domestic poultry and pork demand in major producing countries has increased.
2% month-on-month in May, because China's import pace has accelerated and domestic poultry and pork demand in major producing countries has increased.
The price of dairy products rose by 1.
8% month-on-month in May, which was the 12th consecutive month of increase, up 28% from the same period last year.
8% month-on-month in May, which was the 12th consecutive month of increase, up 28% from the same period last year.
