-Avier Wanjou Brass-
Gas prices ain’t the only thing skyrocketing through the roof these days. If you’ve noticed food prices has also gone up a percentage or FIVE, then you’re not wrong!
According to The FAO Food Price Index, which tracks the international prices of a basket of food commodities is up 3.9 per cent from September. It has been like that for the third consecutive month.
As reported by The United Nations, vegetable oil increased 9.6 per cent hitting an all-time high. Dairy rose 2.6 points, with the increased demand for butter, skimmed milk, and whole milk, cheese prices remain stable.
For the third consecutive month, the meat index has declined, with reduced purchase of pork prices from China. With a decline in beef from Brazil. On the other hand, poultry and sheep prices have increased. With global demand and large surpluses for export, sugar prices dropped by 1.8 per cent.
Last year in comparison, the global cereal production was to increase while reaching a new record level of 2,793 million tons. The world cereal consumption for 2021/2022 is going towards 1.7 per cent gain and leading with an increase of global food consumption of wheat.