Food prices around the world are the highest in a decade: UN | Food Issues

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The United Nations’ Food Price Index climbed the fourth straight month in November to its highest level since June 2011.
Food prices continued to rise in November amid global demand and slow availability, according to the United Nations’ Food and Agriculture Organization (FAO).
FAO’s Food Price Index, which measures monthly changes in global prices for porridge, milk, meat, vegetable oils and sugar, jumped 1.6 points in November from last month to 134.4. That is the highest level in a decade and the fourth consecutive month the index has risen.
Maize and dairy prices saw huge gains, followed by sugar, while prices for meat and vegetable oils fell slightly in November from last month.
The decline in food and energy prices has risen sharply this year, due to a sharp decline and shortfall as countries lifted the ban on COVID-19.
Rising food prices are a major source of income for low-income households because high prices for basic necessities such as bread, meat, milk and rice consume a large portion of their income.
The consumer crisis has put central banks around the world at risk because high interest rates contribute to inflation, but they also run the risk of causing financial ruin.
In the United States, the Federal Reserve has prioritized relocating Americans to work to reduce inflation. But with consumer prices rising sharply in the 30’s in October, Fed President Jerome Powell said this week was the time to “stop” the word “change” in reference to inflation as he indicated the Fed could accelerate its purchasing power. bond. This could lead to a higher interest rate than expected.
Too deep
According to the UN, seed prices rose 3.1 percent in November, and 23.2 percent compared with the same period last year. Wheat prices have grown for five consecutive months and are now at an all-time high since May 2011, due to Australian harvest problems associated with unpredictable rainfall and changes in Russia’s export policy.
Prices for maize exports rose again in November, aided by strong trade in Argentina, Brazil and Ukraine.
Milk index rose 3.4 per cent per month and was 19.1 per cent in November compared to the previous year, due to the demand for milk and butter and finished goods.
The FAO sugar price index rose 120.7 points in November – 1.4 percent more than the previous month and a 40 percent increase over the previous year.
The meat index dropped 0.9 percent from October, jumping for the fourth consecutive month yet by 17.6 percent more than it was in November last year. Due to a slight decline in pork exports to China, mainly from the European Union.
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