According to the Food and Agriculture Organization’s (FAO), World food prices rose for a seventh consecutive month in December, with all the major categories, barring sugar, posting gains last month.
Key takeaways
The Food and Agriculture Organization’s (FAO) food price index is a measure of the monthly change in international prices of a basket of food commodities.
It consists of the average of five commodity group price indices [cereal, vegetable, dairy, meat and sugar], weighted with the average export shares.
It averaged 107.5 points in December versus 105.2 in November.
For the whole of 2020, the benchmark index averaged 97.9 points, a three-year high and a 3.1% increase from 2019.
Important value additions
FAO
The Food and Agriculture Organization of the United Nations is a specialized agency of the United Nations that leads international efforts to defeat hunger and improve nutrition and food security.
Its Latin motto, fiat panis, translates to “let there be bread”.
Headquarters: Rome, Italy
Founded: 16 October 1945, Quebec City, Canada
Parent organization: United Nations Economic and Social Council
