Video: Food prices at the highest levels for 10 years: the alarm from the FAO
2024 Author: Cody Thornton | [email protected]. Last modified: 2023-12-16 12:26
THE food prices on a global level, they continue to grow until they reach the highest levels of the last 10 years. The FAO, which also signals concerns about the purchasing power of populations while still struggling to get out of the pandemic crisis.
With the rise in food prices, the inflation, which somehow undermines the efforts of the central banks in supporting the various national support policies.
Speaking of numbers, world food prices rose in May at the fastest monthly rate in over a decade, to the highest levels since September 2011. This is the twelfth consecutive monthly increase.
On an annual basis the prices have increased by 39, 7%, but mainly affects the corn which has now reached a increase of 89.9% compared to the value of the previous year.
In May there are many "spikes" in prices: vegetable oil +7.8%; sugar +6.8%; meats +2, 2%; dairy products +1, 8%. But why of these increases? Drought problems in Brazil have paralyzed crops while China's large demand for wheat has put a strain on global grain stocks.
The biggest damage is hitting hard especially the poorer nations, dependent on imports and having limited purchasing power.
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