FAO Food Price Index
Featured blog
Food Prices Rise Sharply in March
Food prices spiked in March, according to the latest FAO Food Price Index, released this week. The Index rose 4.8 points from February and is at its highest level since May 2013. The increase is due largely to poor weather and continuing unrest in the Black Sea region. Cereal and sugar prices gained the most this month.
FAO Food Price Index Rebounds in February
In the sharpest rise seen since mid-2012, the FAO Food Price Index increased by 5.2 points, or 2.6 percent, in February. The rebound was driven by rising prices across all sectors of the Index, with the exception of meat. Despite this rise, however, the February Index remained 2.1 percent lower than one year ago.
FAO Food Price Index Down in January
The latest FAO Food Price Index was released on January 9, citing a slight drop from December. At 203.4 points, the Index was 4.4 percent lower than its January 2013 level.
The Cereal Price Index also dropped by 3 points in January, down a full 56 points from its January 2013 level. This decline can be attributed largely to bumper cereal crops and subsequent large export supplies, which helped reduce prices from the highs seen in 2012 and 2013.
Food Prices Steady in December, Slightly Lower in 2013
The latest FAO Food Price Index, released this week, remained largely unchanged from last month's at 206.7 points. Overall, the Index was slightly lower in 2013 than in 2012; food prices declined 1.6 percent in the past year. However, 2013 levels were still the third highest annual value on record.
The Cereal Price Index declined 1.4 percent from November due to record harvests and large global supplies, particularly for wheat and maize. On the other hand, rice prices rose slightly in December. In 2013, the Cereal Index fell by 17 points from 2012.
FAO Food Price Index Unchanged in November
The latest FAO Food Price Index was released yesterday, remaining virtually unchanged from October at 206.3 points. The Index is 4.4 percent below its November 2012 level.
The Cereals Index dropped two points in November, and is a full 24 percent lower than it was in November 2012. This year's record cereals crop is the main driver of this reduction in cereals prices, particularly for wheat, maize, and rice.