World food prices rose for the first time in a year in April

World food prices rose for the first time in a year in April.

The FAO Food Price Index, which tracks monthly changes in international prices of widely traded food items, compiled by the Food and Agriculture Organization of the United Nations (FAO), rose 0.6 percent. percent compared to the previous month.

The FAO Food Price Index, which tracks monthly changes in the prices of cereals, oilseeds, dairy, meat and sugar, rose to 127.2 in April from a revised 126. ,5 in March. The March Food Price Index was previously announced at 126.9.

At this level, the index was 19.7% below its April 2022 level, but 5.2% higher than April 2021.

PRICES OF MEAT, GRAINS, FATS AND SUGAR

The FAO Sugar Price Index rose 17.6 percent on a month, reaching its highest level since October 2011. The index rose 23 percent year-on-year.

While the FAO Meat Price Index rose 1.3% in April, it fell 6.1% year-on-year.

The FAO Cereal Price Index fell 1.7 percent month on month. Grain prices fell 19.8 percent on average in April 2022.

The FAO Vegetable Oil Price Index fell 1.3 percent in April. Thus, oil prices recorded their fifth monthly drop.

‘THE RENEWAL OF THE BLACK SEA AGREEMENT IS IMPORTANT’

“As economies recover from the slowdown, demand will increase, putting upward pressure on food prices,” said Máximo Torero, FAO Chief Economist.

Noting that the increase in rice prices is extremely worrying, Torero said that “it is very important to renew the Black Sea initiative to avoid any increase in wheat and corn.”