Agricultural Production

The FAO Food Price Index continued to surge in May, rising 4.8 percent from the previous month. Prices are now 38.9 percent higher than May 2020 and the highest seen since September 2011. This twelfth consecutive month of increases also brings the Index just 7.6 percent below the record highs of February 2011.

The COVID-19 pandemic has caused unprecedented disruptions of social interactions, affecting both the supply and demand for food. These disruptions to jobs, income and food supply magnified and exacerbated existing inequalities. While the emerging urban middle class suffered greater income losses, the poor and vulnerable in rural and urban areas experienced the worst livelihood impacts. Many social programs, including cash transfers, nutrition and education were interrupted, delayed, or halted, setting back decades of process in reducing poverty, hunger, malnutrition and illiteracy.

The FAO Food Price Index continued to rise in March for the tenth consecutive month. The Index increased 2.1 percent from February, bringing it to its highest value seen since June 2014. The rise was led by increased prices for vegetable oils, meat, and dairy. Cereal prices declined in March.

While women contribute significantly to global agricultural production, they often lack access to credit and finance, training and extension services, resources, and land rights, putting them at higher risk of malnutrition, food insecurity, and poverty. Increasing women’s empowerment in agriculture is a critical step in ensuring gender equity and reducing hunger for all.

The FAO Food Price Index continued to climb for the ninth consecutive month. Food prices rose by 2.4 percent in February to reach the highest levels seen since July 2014.