The prices of edible oils rose by 66% last year to a record level
The Food and Agriculture Organization of the United Nations (FAO) announced Thursday that world food prices reached their highest level in 10 years in 2021, registering an increase of 28% compared to the previous year.
The Food Price Index of the “FAO” – which tracks monthly changes in the prices of basic food commodities – fell slightly last December.
But it scored 133.7, which means it remains close to the record level of 137.6 points set in February 2011.
The index reached 125.7 for the full year, the highest in a decade.
“While higher prices are usually expected to lead to an increase in production, input prices, the ongoing global epidemic and foggy weather conditions, more than ever, do not leave much room for optimism about the return of more stable market conditions even in the 2022”.
He pointed out that the prices of all types of food rose last year due to the increase in demand.
The increase in food items was as follows:
- The prices of edible oils rose by 66% last year, hitting a record high.
- Grain prices rose by 27%, reaching a level not seen since 2012.
- Corn prices increased by 44.1%.
- Wheat prices rose by 31.3%.
- Meat prices increased by 12.7% in 2021.
- The prices of dairy products increased by 16.9%.