Global food prices hit 10-year peak — FAO

Markett

Food prices surged in September due to tightening of supply and robust demand, the Food and Agriculture Organisation of the United Nations (FAO) has reported.

The FAO, which tracks monthly changes in the international prices of commonly-traded food commodities, said its Food Price Index averaged 130.0 points in September, up by 1.2 per cent from the figure recorded in August. The September 2021 record was the highest level since September 2011.

The FAO in a statement said the Cereal Price Index in September increased by 2.0 percent from the previous month, with world wheat prices up almost 4 per cent – and as much as 41 per cent higher than a year earlier – due to tightening export availability amid strong demand.

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