Prices for wheat and corn reached a record high last year, though they fell in December along with the costs of other grains, the FAO said. It said harvests in the Southern Hemisphere boosted suppl…
ROME — Global prices for food commodities like grain and vegetable oils were the highest on record last year even after falling for nine months in a row, the U.N. Food and Agriculture Organization said, as Russia’s war in Ukraine, drought and other factors drove up inflation and worsened hunger worldwide.
The December decline was led by a drop in the price of vegetable oils amid shrinking import demand, expectations of increased soy oil production in South America and lower crude oil prices. Grain and meat were also down, while dairy and sugar rose slightly. Last year, the U.N. organization’s Food Price Index hit the highest level since its records began in 1961, according to FAO data.
With critical Black Sea supplies disrupted, food prices rose to record highs, increasing inflation, poverty and food insecurity in developing nations that rely on imports.
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Global food prices in 2022 hit record high amid drought, warROME (AP) — Global prices for food commodities like grain and vegetable oils were the highest on record last year even after falling for nine months in a row, the U.N. Food and Agriculture Organization said, as Russia's war in Ukraine , drought and other factors drove up inflation and worsened hunger worldwide .
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War in Ukraine, Drought Pushed Global Food Prices to All-Time High in 2022'It is important to remain vigilant and keep a strong focus on mitigating global food insecurity given that world food prices remain at elevated levels, with many staples near record highs,' said the FAO's chief economist.
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