World food costs rose for a seventh consecutive month in December, with all the foremost classes, barring sugar, posting good points final month, the United Nations food company stated.
The Food and Agriculture Organization’s (FAO) food price index, which measures month-to-month modifications for a basket of cereals, oilseeds, dairy merchandise, meat and sugar, averaged 107.5 factors final month versus 105.2 in November. For the entire of 2020, the benchmark index averaged 97.9 factors, a three-year excessive and a 3.1% enhance from 2019.
It was nonetheless down greater than 25% from its historic peak in 2011.
Vegetable oil costs continued current sturdy good points, leaping 4.7% month-on-month in December after surging greater than 14% in November. For the entire of 2020, the index was up 19.1% on 2019.
The cereal price index posted a extra modest 1.1% rise in December from the month earlier than. For all of 2020, the index averaged 6.6% above 2019 ranges.
Export costs for wheat, maize, sorghum and rice all rose in December, shifting greater in half resulting from issues over rising circumstances and crop prospects in North and South America in addition to Russia, the Rome-based FAO stated.
The dairy index climbed 3.2% on the month, nevertheless, over the entire of 2020, it averaged some 1% lower than in 2019. Bucking the rises in different indices, common sugar costs dipped by 0.6% in December. Last month, the FAO revised down its harvest forecast for the 2020 cereal season for a 3rd month working, reducing it to 2.74 billion tonnes from a earlier 2.75 billion tonnes.