Connect with us

Hi, what are you looking for?

top
Capital News
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”

Click to comment
Advertisement

More on Capital News

World

Moscow, Russian Federation, Jan 27 – Russian President Vladimir Putin on Wednesday urged better ties between Moscow and the European Union, declaring the Kremlin...

Headlines

Charles Oluenyi was cornered at a house in a six-storey flat where he had been hiding since Friday when he allegedly killed his former...

County News

NAIROBI, Kenya Jan 27 – Contractors owed money by the Nairobi County government worth Sh1.3 billion accrued during the 2018/2019 financial year are set...

Kenya

NAIROBI, Kenya, Jan 27- Kenya has welcomed a report by the Inter-Governmental Authority on Development (IGAD), that concludes that Mogadishu did not have justifiable...

US Elections (2020)

San Francisco, United States, Jan 27 – YouTube has suspended Donald Trump indefinitely from the platform and said it will also prevent the former...

Capital Health

Washington, United States, Jan 27 – More than 100 million Covid-19 cases have now been recorded worldwide, according to an AFP tally on Tuesday,...

Capital Health

NAIROBI, Kenya, Jan 27- The country’s COVID-19 caseload increased to 100, 323 on Wednesday, after 130 more people turned positive. Health Cabinet Secretary Mutahi...

Kenya

NAIROBI, Kenya, Jan 27- Limuru Senior Principal Magistrate Everlyn Olwande has officially become a member of the Judicial Service Commission (JSC) after taking oath...