Global food price increases will slow slightly in September 2021

The SIKA Finance website of Côte d’Ivoire reported on October 7, 2021 that according to the statistics of the United Nations Food and Agriculture Organization , since the elimination of relevant international trade barriers , global food prices have continued to rise.
The year-on-year increase in September 2021 was 32.
8%, which was in line with the 33% increase in the previous month.
Compared with that, the gains have slowed down slightly
.
Among them, the increase in vegetable oil prices fell from 67.
88% in August to 61.
2% in September, and the increase in cereal prices fell from 31.
11% to 27.
4% in September.
This was the main reason for the slowdown in food prices in September
.
However, among vegetable oils, palm oil prices are still rising strongly, climbing to the highest price in 10 years.
This is mainly due to the market's concern that the reduction of foreign labor in Malaysia may lead to a decline in production
.
Among grains, the price of wheat has risen by 40%, showing that the market demand is strong and the supply of exportable wheat is tight
.

 

　　In addition, the prices of dairy products, meat and sugar continue to rise strongly
.
The price increase of dairy products rose from 13.
61% in August to 15.
25%, meat rose from 22% to 26.
23%, and sugar rose from 48% to 53.
42%
.
Due to the poor climate in Brazil this year, the world's largest sugar producer, sugar production is expected to decline, leading to a rapid rise in global sugar prices
.