World food price index surges in May to highest level since 2011 -FAO

 

By Reuters

June 3, 202

 

ROME (Reuters) - World food prices rose in May at their fastest monthly rate in more than a decade, posting a 12th consecutive monthly increase to hit their highest level since September 2011, the United Nations food agency said on Thursday.

 

FAO also issued its first forecast for world cereal production in 2021, predicting output of nearly 2.821 billion tonnes -- a new record and 1.9% up on 2020 levels.

 

The Food and Agriculture Organizationís food price index, which measures monthly changes for a basket of cereals, oilseeds, dairy products, meat and sugar, averaged 127.1 points last month versus a revised 121.3 in April.

 

The April figure was previously given as 120.9.

 

On a year-on-year basis, prices were up 39.7% in May...

 

... The meat index rose 2.2% from April...

 

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https://www.reuters.com/article/global-economy-food/world-food-price-index-surges-in-may-to-highest-level-since-2011-fao-idUSR1N2MF00P