World food prices rise for the ninth month in a row
The price index for vegetable oil increased by 6.2%, reaching the highest level since April 2012. The price index for sugar rose by 6.4% compared to January, as "lower production in key producing countries, as well as strong import demand from Asia, raised ongoing concerns about a reduction in global supplies". The price index for cereals for the month increased by 1.2%, for meat - by 0.6%, for dairy products - by 1.7%.
The organization also reported that, according to a preliminary forecast, "global wheat production in 2021 is likely to grow and reach a new record of 780 million tons, as expectations of a recovery in production in the European Union more than compensate for the risks of production in the Russian Federation, which depend on weather conditions."
