{"id":13964,"date":"2011-12-09T15:28:57","date_gmt":"2011-12-09T21:28:57","guid":{"rendered":"http:\/\/blog.sustainablog.org\/?p=13964"},"modified":"2011-12-09T15:28:57","modified_gmt":"2011-12-09T21:28:57","slug":"food-price-spike-persisting","status":"publish","type":"post","link":"https:\/\/sustainablog.org\/articles\/food-price-spike-persisting\/","title":{"rendered":"Food Price Spike Persisting"},"content":{"rendered":"<p><a href=\"https:\/\/sustainablog.org\/wp-content\/uploads\/2011\/12\/FAO-Food-Nov11.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-13965\" src=\"https:\/\/sustainablog.org\/wp-content\/uploads\/2011\/12\/FAO-Food-Nov11.jpg\" alt=\"\" width=\"500\" height=\"324\" srcset=\"https:\/\/sustainablog.org\/wp-content\/uploads\/2011\/12\/FAO-Food-Nov11.jpg 500w, https:\/\/sustainablog.org\/wp-content\/uploads\/2011\/12\/FAO-Food-Nov11-300x194.jpg 300w\" sizes=\"(max-width: 500px) 100vw, 500px\" \/><\/a><\/p>\n<p>Yesterday the UN Food and Agriculture Organization (FAO) released it&#8217;s <a title=\"Source of the FAO data\" href=\"http:\/\/www.fao.org\/worldfoodsituation\/wfs-home\/foodpricesindex\/en\/\" target=\"_blank\">monthly index of global food prices<\/a>. \u00a0When the current price spike is compared with the one that occurred in 2007\/8, the striking difference is the persistence of relatively high prices. \u00a0Rather than falling rapidly as in 2008, this &#8220;spike&#8221; is only showing a modest decline 23 months into the cycle (see chart above). \u00a0One UN economist is quoted as saying that prices are <a title=\"Reuters article on this topic\" href=\"http:\/\/in.reuters.com\/article\/2011\/12\/08\/food-fao-outlook-idINDEE7B709920111208\" target=\"_blank\">&#8220;stabilizing at high levels.&#8221;<\/a> Back <a title=\"A look at the index in October\" href=\"https:\/\/sustainablog.org\/2011\/10\/food-price-spike\/\" target=\"_blank\">in October<\/a> I thought it would take until January to know if this spike was actually different. \u00a0Now it seems clear that it is.<\/p>\n<p><a href=\"https:\/\/sustainablog.org\/wp-content\/uploads\/2011\/12\/FAO-Cereal-Nov11.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-13966\" src=\"https:\/\/sustainablog.org\/wp-content\/uploads\/2011\/12\/FAO-Cereal-Nov11.jpg\" alt=\"\" width=\"500\" height=\"325\" srcset=\"https:\/\/sustainablog.org\/wp-content\/uploads\/2011\/12\/FAO-Cereal-Nov11.jpg 500w, https:\/\/sustainablog.org\/wp-content\/uploads\/2011\/12\/FAO-Cereal-Nov11-300x195.jpg 300w\" sizes=\"(max-width: 500px) 100vw, 500px\" \/><\/a><\/p>\n<p>Cereal prices were down marginally (see chart above) and <a title=\"Wheat price slump\" href=\"http:\/\/www.bloomberg.com\/news\/2011-12-08\/wheat-prices-shredded-with-near-record-crop-boosting-reserves-commodities.html\" target=\"_blank\">following a record harvest <\/a> there is hope that they will ease further in coming months. \u00a0Meat prices, which have risen far further in this spike than in the last, show no real sign of decline (see chart below)<\/p>\n<p><a href=\"https:\/\/sustainablog.org\/wp-content\/uploads\/2011\/12\/FAO-Meat-Nov11.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-13967\" src=\"https:\/\/sustainablog.org\/wp-content\/uploads\/2011\/12\/FAO-Meat-Nov11.jpg\" alt=\"\" width=\"500\" height=\"366\" srcset=\"https:\/\/sustainablog.org\/wp-content\/uploads\/2011\/12\/FAO-Meat-Nov11.jpg 500w, https:\/\/sustainablog.org\/wp-content\/uploads\/2011\/12\/FAO-Meat-Nov11-300x219.jpg 300w\" sizes=\"(max-width: 500px) 100vw, 500px\" \/><\/a><\/p>\n<p>The dairy index dropped slightly, but the index for fats and oils actually increased.<\/p>\n<p>These prices are most relevant for nations which are largely dependent on food imports. \u00a0Unfortunately this month&#8217;s report is not encouraging for the world&#8217;s poor.<\/p>\n<p>My website is <a title=\"Applied Mythology\" href=\"http:\/\/appliedmythology.blogspot.com\/\" target=\"_blank\">Applied Mythology<\/a>. My email is savage.sd@gmail.com.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The UN&#8217;s Food &#038; Agriculture Organization has released its monthly index of global food prices for November, and it shows persistently high prices across major food categories.<\/p>\n","protected":false},"author":110,"featured_media":13972,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[10,4799,5411,5536,138],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>FAO Index Shows Food Price Spike Continues<\/title>\n<meta name=\"description\" content=\"Think food prices are high? You&#039;re right: the UN&#039;s Food &amp; Agriculture Organization reports that a food price spike continued in November, 2011.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/sustainablog.org\/articles\/food-price-spike-persisting\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FAO Index Shows Food Price Spike Continues\" \/>\n<meta property=\"og:description\" content=\"Think food prices are high? 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