Global Food Prices Rise 40 Percent, China’s Surging Food Demand a Big Factor

Spread the love

Global food prices have risen for the twelfth month in a row, (39.7 percent in May from a year earlier), the highest since September 2011, according to the latest figures from the UN Food and Agriculture Organization (FAO). There are concerns that China, the world’s largest food importer, will face a food crisis. According to a report released by the FAO on June 3, the average food price index in May was 127.1 points, up 4.8 percent from April and 39.7 percent higher than May 2020. It is only 7.6 percent below the peak of 137.6 that occurred in February 2011. Among the indicators, the grain price index averaged 133.1 points in May, up 6.0 percent month on month (MoM) and 36.6 percent year over year (YOY). Among the major grains, corn prices rose the most, 8.8 percent M0M and 89.3 percent YOY, the highest since January 2013. Wheat prices …

Related Posts