Food Prices Vault to Highest Level in a Decade

Contact Your Elected Officials
The Epoch Times Header

Food prices across the world have risen to their highest levels in a decade on the back of tightening supply conditions coupled with robust demand, according to the Food and Agriculture Organization of the United Nations (FAO).

The FAO’s food price index, which measures world food commodity prices, surged 31.3 percent in the 12 months through October, coming in at a reading of 133.2 points, a level not seen since July 2011.

On a month-over-month basis, the index rose by 3.9 points, or 3.0 percent, with the October rise representing the third consecutive month of increases.

Accounting for the bulk of the rise in the index were higher prices of most cereals and vegetable oils.

The FAO vegetable oil price index hit an all-time high of 184.8 points in October, up 16.3 points, or 9.6 percent compared to September’s reading.

“The increase was driven by firmer price quotations for palm, soy, sunflower, and rapeseed oils,” FAO said in a statement, in which it also noted that rising crude oil prices were also a factor.

The agency’s cereal price measure rose to 137.1 points in October, up 4.3 points, or 3.2 percent, from September and vaulting to its highest level since November 2012.

“Tighter availability in global markets due to reduced harvests in major exporters, especially Canada, the Russian Federation, and the United States of America, continued to put upward pressure on prices,” according to FAO.

Dairy prices also rose by 2.2 percent month-over-month in October, while the meat price index edged down 0.7 percent and sugar prices fell 1.8 percent.

“International price quotations for butter, skim milk powder, and whole milk powder rose steeply for the second consecutive month, underpinned by firm global import demand amid buyers’ efforts to secure supplies to build stocks,” FAO said.

Helping to drive down meat prices were drops in international quotations for pig meat, mostly due to reduced buying from China.

“By contrast, poultry meat quotations rose, boosted by high global demand, while production expansions remained weak due to high feed costs and avian flu outbreaks, especially in Europe,” FAO said.

By Tom Ozimek

Read Full Article on TheEpochTimes.com

The Epoch Times
The Epoch Timeshttps://www.theepochtimes.com/
Tired of biased news? The Epoch Times is truthful, factual news that other media outlets don't report. No spin. No agenda. Just honest journalism like it used to be.

A Widow Inspires The World

Erika Kirk moved the nation with her speech two days after her husband’s assassination, vowing to continue his mission and grow Turning Point USA.

Both Left and Right Are Making Lists

The right admired Charlie Kirk for his faith and patriotism, while the left opposed him for dismantling their positions and narratives with ease.

Redemption’s playbook: The Senior

The Senior isn’t your usual underdog tale, it’s real, it’s raw, and it flips every cliché on its head with a playbook full of grit and plenty of aftermaths.

Kirk Assassination Oddities

Just like the assassination attempt on President Trump in Butler, PA, there are oddities that do not add up with the actual assassination of Charlie Kirk.

Pharma-Funded Medical Groups Threaten Anti-MAHA Physician Strike

“A paradoxical pattern has been suggested in the literature on doctors' strikes: when health workers go on strike, mortality stays level or decreases."

Charlie Kirk Assassination Suspect Under ‘Special Watch’ in Custody: Sheriff’s Office

Suspected assassin of Charlie Kirk is on “special watch” in custody and held separately, the Utah Sheriff’s Office spokesperson confirmed.

Employees Fired, Suspended for Celebrating Charlie Kirk’s Death

Multiple U.S. companies warn employees they could lose their jobs if they post comments celebrating or mocking the assassination of Charlie Kirk.

Turning Point USA Announces Memorial Service for Slain Founder Charlie Kirk

The conservative political nonprofit Turning Point USA has announced a Sept. 21. memorial service for its late founder, Charlie Kirk.

Latin American Leaders Pay Tribute to Charlie Kirk

Latin American leaders mourned the passing of Charlie Kirk, who was assassinated as he spoke to a crowd of students at Utah Valley University.

Trump Signs Memo Targeting Direct-to-Consumer Pharmaceutical Advertising

President Trump signed a memo to ensure drug ads give fair, balanced, and complete information to protect and inform American consumers.

Trump Runs out of Patience With China, Sharpens His Words

President Donald Trump’s recent remarks targeting China and its allies mark a noticeable shift in tone.

Trump Signs Order Renaming Department of Defense as Department of War

President Donald Trump on Sept. 5 signed an executive order renaming the Department of Defense as the Department of War.

Trump Signs Executive Order Targeting Countries That Unlawfully Detain Americans

President Trump signed an EO on targeting the unlawful detention of American citizens around the world and to facilitate the release of hostages.
spot_img

Related Articles

Popular Categories

MAGA Business Central