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United Nations Food and Agriculture Organization says World Food prices on record rise

Posted: Saturday, May 6, 2023. 2:29 pm CST.

By Zoila Palma Gonzalez: The United Nations Food and Agriculture Organization (FAO) says that the world food price index rose in April for the first time in a year.

The FAO’s data tracks the most globally traded food commodities, averaged 127.2 points last month against 126.5 for March, Reuters report.

In addition, the FAO noted that the rise reflected higher prices for sugar, meat, and rice.

“As economies recover from significant slowdowns, demand will increase, exerting upward pressure on food prices,” FAO Chief Economist Maximo Torero stated.

The U.N. agency said it is concerned about the increase in the price of rice.

“(The) 2023/24 prospects for rice production along and south of the equator are mixed, largely due to the regionally varied impact of the La Niña event,” FAO said.

 

 

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