The FAO Food Price Index fell for the fifth consecutive year in 2016, according to the most recently released report. For 2016 overall, the Index averaged 161.6 points, which is down 1.5 percent from its 2015 average. Cereal, meat, and dairy prices all declined in 2016, more than making up for rises in sugar and vegetable oil prices.
Ensuring food and nutrition security in the face of growing populations, increasing incomes, and a changing climate will require countries to transform their food systems to be more sustainable and equitable. A 2016 report published by IFPRI and the Compact2025 Initiative looks at recent successful food system transformations in Brazil, Rwanda, and Vietnam that helped significantly reduce hunger and undernutrition in these countries.
The latest USDA World Agricultural Supply and Demand Estimate report was released in early December.
The FAO’s latest Crop Prospects and Food Situation Report for 2016 forecasts world cereal production at 2,578 million tonnes, 1.7 percent above 2015 cereal output. This gain is being driven mainly on larger maize and wheat crops. The Crop Prospects and Food Situation Report is published four times a year and provides a review of the food situation by geographic region; it also includes a section dedicated to Low Income Food Deficit Countries (LIFDC) and a list of countries requiring external food assistance.
The latest Food Price Monitoring and Analysis (FPMA) Bulletin from GIEWS, released on December 9, reports mixed but low trends for global wheat prices in November. Benchmark US Wheat (No. 2 Hard Red Winter) prices fell slightly from October and remain nearly 10 percent below November 2015 levels.
The FAO Food Price Index, released today, fell slightly in November but remains 10.4 percent higher than its November 2015 level. This month's small decline, driven mostly by falling oil prices, interrupted the rising trend seen since the start of 2016.
The Cereal Price Index fell 0.6 percent in November and is as much as 12 points below its year-earlier level. Good global supply prospects, particularly for wheat in Argentina and Australia, have supported this decrease.
Agriculture played a leading role in the UN Conference of the Parties on Climate Change (COP22), held in November in Marrakesh, Morocco. This year’s conference theme was “Africa, Adaptation, and Agriculture”; the event focused on helping countries establish specific strategies to achieve the agreement reached at COP21 (the Paris Agreement) to cap climate change below two degrees Celsius of warming in this century.
Value chain development (VCD) aims to address poverty by strengthening linkages among agricultural value chain actors (producers, laborers, traders, processors, retailers, and consumers), allowing those actors to take better advantage of market opportunities.
The FAO’s monthly report on food price trends was released on November 10. The bulletin reports on recent food price developments over the past month at the global, regional, and country levels, with a focus on developing countries and early warnings for high country-level food prices that may negatively affect food security.
The USDA’s monthly report on World Agricultural Supply and Demand Estimates (WASDE) was released on November 9.