Global food prices rise, UN warns

ROME, May 8 — International prices of staple foods rose in April for the first time in a year, driven by higher global prices for sugar, meat and rice, the United Nations Agriculture and Food Organization (FAO) said.

The FAO Food Price Index, which records monthly fluctuations in world prices for the world’s most traded food products, averaged 127.2 points in April, up 0.6% from March; representing an increase of 5.2 percent compared to April 2021.

Sugar price index has jumped 17.6% since March, reaching its highest level since October 2011, according to the agency’s report. also the slow start of the sugar cane harvest in Brazil.

Similarly, the meat price index rose 1.3% from March, while the price index for other major food categories, excluding rice, maintained a downward trend.

“The rise in rice prices is extremely worrying and the Black Sea Initiative needs to be restarted to avoid a further surge in wheat and corn prices,” said Maximo Torero, FAO chief economist, quoted by RT.

It was the agreement on the transportation of grain from the Black Sea ports that was reached in July last year between Russia and Ukraine through the mediation of the UN and Turkey. The agreement was intended to help restart grain shipments from Ukrainian ports and has already been extended once, but it expires on May 18, and there is uncertainty about the prospects for its extension.

Source: Juventud Rebelde


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