Global Food Prices Blow Through the Roof
👉 Global food prices are up 75%, Oils have even more than tripled in less than two years
👉 Most sub-indices trade at record-highs, except for sugar & dairy
👉 Global food prices started to rise mid-2020, after nearly five years of almost no global food price inflation
Global Food Prices Started Rising Mid-2020
Global food prices measured by FAO’s Food Price Index (FFPI) had a long period of five years with almost no increases. This, however, changed mid-2020, when they all of sudden started to rise again.
Global Food Prices Are Up 75%, Nutritional Oils More Than Tripled
The benchmark World Food Price Index has risen by 75% since mid-2020. In the same period, the Oils sub-index has increased by 220%, whereas Meat is „only“ up by 26%.
Most Sub-Indices Trade at Record-Highs, Except for Sugar & Dairy
Though recent price inflation has varied a lot for separate sub-indices of food categories, but most of them currently trade at fresh record highs with the notable exception of sugar and dairy. Prices for sugarr peaked more than 10 years ago in January 2011, for dairy in December 2013.
FFPI Index Methodology
The FAO’s food price index (FFPI) includes the most traded food commodities. For the technical methodology of the FFPI, please see here.