On Thursday (6/7/12), the Food and Agriculture Organization of the UN (FAO) released it’s indices for food prices in international trade. Most of the news coverage was upbeat because May showed the largest drop in some time. For instance, the allAfrica website had a headline, “FAO Food Price Index Drops Sharply.” It was a 4% drop; however that comes after several months where the index stayed flat and failed to show the sort of major correction that occurred after the last spike (2007-9). Even with the drop in May, the index is still nearly as high as it’s highest level in that previous spike.
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The UN’s Food & Agriculture Organization has released its monthly index of global food prices for November, and it shows persistently high prices across major food categories.
The current food price spike is looking an awful lot like the similar rise in prices that occurred in 2008-09.
Today, the UN Food and Agriculture Organization (FAO) released it’s food price indices for May 2011. It was a mixture of somewhat encouraging news and not so encouraging news. There are indications that we may have reached the peak of the spike at levels comparable to the last spike in 2008, but there is no […]
The FAO (Food and Agriculture Organization of the UN) released their global food price index data today showing what happened in April. Last month there had been a glimmer of hope that the upward price trend was reversing, but as many predicted that was not a trend that continued. Dairy, Oil and Sugar prices on […]
The chart above shows that global food prices, as measured by the FAO indicies, are spiking, much as they did in 2008. At the end of January, the overall food price index had just surpassed the 2008/9 peak, while the indicies for dairy, cereals and oils were closing in on the previous maximum. The meat […]