Connect with us

Hi, what are you looking for?

top
Global food commodity prices rose sharply in November to their highest level in nearly six years, the UN food agency said Thursday, due in part to adverse weather conditions.

Africa

World food prices jump to six-year high: UN

Rome, Italy, Dec 3 – Global food commodity prices rose sharply in November to their highest level in nearly six years, the UN food agency said Thursday, due in part to adverse weather conditions.

The Food and Agriculture Organisation (FAO) said prices of the most globally traded foodstuffs were up across the board, putting extra pressure in particular on 45 countries that need outside help feeding their populations.

The FAO Food Price Index averaged 105 points during the month, up 3.9 percent from October and 6.5 percent from a year earlier.

“The monthly increase was the sharpest since July 2012, putting the index at its highest level since December 2014,” the Rome-based agency said.

The biggest rise was in the vegetable oil price index, which jumped 14.5 percent because of low palm oil stocks.

The cereal price index rose 2.5 percent from October — making it nearly 20 percent higher than a year ago.

Wheat export prices were also up, because of reduced harvest prospects in Argentina, as were maize prices, with lower output expectations in the US and Ukraine and large purchases by China, the FAO said.

The sugar price index was up 3.3 percent month-on-month amid “growing expectations of a global production shortfall” as bad weather sparked weaker crop prospects in the EU, Russia and Thailand.

Advertisement. Scroll to continue reading.

Dairy prices also rose 0.9 percent to near an 18-month high, in part because of a boom in sales in Europe. Meat prices were up 0.9 percent from October, but significantly down on a year ago, the report said.

The increase in prices is an extra burden for those who saw their income fall as a result of the coronavirus pandemic, which the FAO said is proving to be “an important driver of the levels of global food insecurity”.

“The pandemic is exacerbating and intensifying already fragile conditions caused by conflicts, pests and weather shocks, including recent hurricanes in Central America and floods in Africa,” it said.

“Forty-five countries, 34 of them in Africa, continue to be in need of external assistance for food,” it said.

What is more, it noted a risk of above-average rainfall in southern Africa and East Asia, while parts of Near East Asia and East Africa were expecting reduced rains, “conditions that may result in adverse production shocks”

Comments
Advertisement

More on Capital News

World

Mexico City (AFP), May 17 – More than 100,000 people are now listed as missing in violence-wracked Mexico — a grim milestone that the...

NATIONAL NEWS

The copyright board stated that despite the Azimio coalition having a public performance license allowing it to play both local and international music, the...

August Elections

NYERI, Kenya, May 17 – Deputy President William Ruto says his running mate Rigathi Gachagua earned the position because he has a strong personality....

Top stories

NAIROBI, Kenya May 18 – The ICTA Authority has today signed a Memorandum of Understanding with education technologies firm Kodris Africa that will see...

August Elections

NAIROBI, Kenya May 17 – The number of nomination disputes within political parties has significantly reduced this year as compared to last year, Registrar...

Kenya

Nairobi, Kenya, May 17- George Wajackoyah, the Roots party presidential candidate has threatened to reintroduce the death penalty in the country to curb endemic...

Supreme Court

The exercise was overseen by IEBC Returning Officer Abdidahir Maalim Abdi who certified that Justice Ibrahim was the only person who stood validly nominated...

August Elections

NYERI, Kenya, May 17 – Deputy President William Ruto’s running mate Rigathi Gachagua has assured him that he will never betray him. Speaking during...