On January 6, Central European time, the food and Agriculture Organization of the United Nations released a report saying that due to the sharp decline in the high international vegetable oil and sugar prices, the global food price fell slightly in December 2021, but it still hit a 10-year high last year.
The FAO food price index tracks the changes in the international prices of food commodities with the most active Global trade every month. The average index in December 2021 was 133.7 points, with a month on month decrease of 0.9% and a year-on-year increase of 23.1%. In 2021, the FAO food price index averaged 125.7 points, a sharp increase of 28.1% over the previous year. The data show that although the prices of wheat and rice weakened in December 2021, the annual grain price still reached the highest level since 2012.
Abasiyan, senior economist of FAO, pointed out that due to the high input cost, the continuous global epidemic and more uncertain climate conditions, the prospect of restoring market stability in 2022 is still not optimistic.
On June 6, FAO also released the monthly grain supply and demand briefing. It is estimated that the world grain output will be 2.791 billion tons in 2021, an increase of 0.7% over 2020, reaching a new high. The report predicts that the world grain utilization in 2021 and 2022 will increase by 1.7% over the previous year, reaching 2.81 billion tons.
