Global food prices continued to climb in December 2020, rising for the seventh month in a row

2020 FAO Food Price Index hit a three-year high January 7, 2021, Rome - The Food and Agriculture Organization of the United Nations released a report on January 7, 2021, showing that global food prices continued to climb in December 2020, driven by dairy and vegetable oil prices, for the seventh consecutive month.
food price index is used to measure changes in international prices of food commodities, which are the most active in global trade.
in December 2020, the index averaged 107.5 points, up 2.2% month-on-month.
for all of 2020, the food price index averaged 97.9 points, a three-year high, up 3.1 per cent from 2019 but more than 25 per cent below the peak of 131.9 points in 2011.
the FAO grain price index rose 1.1 percent in December from December, and the 2020 average is 6.6 percent higher than in 2019.
prices of wheat, corn, sorghum and rice all strengthened in December, partly because of concerns about crop growth conditions and harvest prospects in North, South America and Russia.
2020, rice export prices increased by 8.6% year-on-year, while corn and wheat export prices increased by 7.6% and 5.6% year-on-year, respectively.
the FAO vegetable oil price index rose 4.7% month-on-month in December, the highest level since September 2012.
of Indonesia's export taxes has also affected international trade as supplies continue to tighten in major palm oil-producing countries.
, the continued wave of strikes in Argentina has affected oil mills and port logistics in the country, which has also partly pushed up international soybean oil prices.
2020, the FAO Vegetable Oil Price Index increased by 19.1% over the same period last year.
fao's dairy price index rose 3.2% month-on-month in December, the seventh straight month of gains.
prices of all products in the dairy sector rose this month on concerns that dry, high-temperature weather conditions would affect milk production in Oceania, stronger global import demand and strong domestic demand in Western Europe.
, the FAO dairy price index for the whole of 2020 is down 1.0% from 2019.
fao meat price index rose 1.7% month-on-month in December, but the full-year average fell 4.5% from 2019.
poultry prices rebounded this month, caused by stronger import demand, particularly from the Middle East, while domestic sales in key producers were high, while the avian flu outbreak in Europe also had a negative impact on production.
prices have fallen slightly as a result of the african swine fever outbreak, which has prevented Germany from exporting pork to Asian markets.
's sugar price index rose in November, but recovered slightly by 0.6% month-on-month in December.
2020, the sugar price index is up an average of 1.1% from 2019.
strong import demand behind solid prices: China's imports will surge in 2020, as will demand for refined sugars in Indonesia's food and beverage sector.
prices have weathered the downs, despite better production prospects in Brazil and India.
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