World Food Prices Reach Highest Level in Last 10 Years

The Food and Agriculture Organization (FAO) reported that global food prices increased by 28 percent, the most in a decade.

food insecurity
Illustration. Rising food prices lead to increased food insecurity. (Doc. United Nations)

ACTNews, JAKARTA – According to a report released in early January by the Food and Agriculture Organization of the United Nations (FAO), the food price index averaged at 125.7 points last year, up 27.6 points from 2020, with all sub-indices averaging sharply higher compared to the previous year. The figure was 131.9 in 2011.

This index is based on FAO research on international food commodity market prices. Cereals (wheat), milk, meat, sugar, and vegetable oils were among the main food items that saw significant increases.

According to FAO senior economist Abdolreza Abbassian, the possibility of food price stability in 2022 is quite remote. According to him, several global issues have led to a decline in food products in many sectors.

“While normally high prices are expected to give way to increased production, the high cost of inputs, ongoing global pandemic and ever more uncertain climatic conditions leave little room for optimism about a return to more stable market conditions even in 2022,” said FAO senior economist Abdolreza Abbassian.

Food price increases can increase the number of people suffering from acute hunger globally. Millions of people, the vast majority of whom are refugees, are at risk of starvation. []