World Video | Defence | Foreign Affairs | Natural Events | Trade | NZ in World News | NZ National News Video | NZ Regional News | Search

 

UN: Global Food Prices Increase For Eighth Straight Month

Global Food Prices Increase For Eighth Straight Month, UN Agency Reports

New York, Mar 3 2011 9:10AM
Global food prices rose for the eighth straight month in February, the United Nations Food and Agriculture Organization (FAO) reported today, while also warning that unexpected spikes in oil prices could exacerbate an already precarious situation in food markets.

The FAO Food Price Index – a measure of basic food prices at the international level – averaged 236 points in February, up 2.2 per cent from January, the highest record in real and nominal terms, since the Rome-based agency started monitoring prices in 1990.

The prices of all commodity groups monitored increased again last month, except for sugar, FAO noted in a <"http://www.fao.org/news/story/en/item/51913/icode/">news release.

Also, global cereal prices have increased sharply with export prices of major grains up at least 70 per cent from February 2010, owing to a decline in world cereal production last year and growing demand.

The Cereal Price Index, which includes prices of main food staples such as wheat, rice and maize, rose by 3.7 per cent in February to 254 points – the highest level since July 2008.

FAO is forecasting global wheat production to rise by around 3 per cent this year if there is a recovery in major producers of the Commonwealth of Independent States.

Adding to this situation are concerns over the possible increases in oil prices.

“Unexpected oil price spikes could further exacerbate an already precarious situation in food markets,” said David Hallam, Director of FAO’s Trade and Market Division.

“This adds even more uncertainty concerning the price outlook just as plantings for crops in some of the major growing regions are about to start,” he added.

ENDS

© Scoop Media

 
 
 
World Headlines

 

Climate Strike: At UN, Youth Activists Press For Bold Action

This first-ever UN Youth Climate Summit follows Friday’s global ‘climate strike’, which saw millions of young people from across the globe walk out of school and jam streets in major cities, from New York to New Delhi and Santiago to San Francisco. More>>

ALSO:

Pacific: Tongan PM 'Akilisi Pohiva Dies, Aged 78

A constant thorn in the side of the monarchy and nobility, Mr Pohiva's lifelong battle for representation had seen him fired from the public service and charged with sedition... More>>

ALSO:

Untied Kingdom: UK PM Moves To Suspend Parliament In Weeks Before Brexit

The Prime Minister has briefed Cabinet colleagues that the government will bring forward an ambitious new legislative programme for MPs’ approval, and that the current parliamentary session will be brought to an end. More>>

ALSO:

Gordon Campbell: On The Hong Kong Protest Movement

The pro-democracy protests enjoy huge support among Hong Kong’s youth, partly because the democratic systems currently at risk have only a limited time span. More>>

ALSO: