Global food prices soar to 6-year high, UN agency says (Russia Today)

Global food prices soar to 6-year high, UN agency says – By Russia Today Staff (Russia Today) / Feb 7 2021

World food prices rose in January for the eighth consecutive month, led by cereals, vegetable oils and sugar, according to a report by the Food and Agriculture Organization (FAO) of the United Nations.

The FAO said that its food price index marked a 4.3 percent increase from December, reaching its highest level since July 2014. The index tracks monthly changes in the international prices of commonly traded food commodities.

The cereal price index showed a sharp 7.1 percent monthly increase led by a global surge in the price of maize, the crop North Americans call corn.

https://twitter.com/FAOnews/status/1357273559157141505?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1357273559157141505%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.rt.com%2Fbusiness%2F514594-global-food-prices-record-high%2F

Maize prices spiked 11.2 percent and are now 42.3 percent above their January 2020 level, “reflecting increasingly tight global supply amid substantial purchases by China and lower-than-expected production and stock estimates in the United States of America as well as a temporary suspension of maize export registrations in Argentina.”

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