Reasons for rising food prices - Economist

Everyone in different countries of the world noticed that "food prices" rose during 2021, by more than 28%, according to the Food and Agriculture Organization of the United Nations.

We find that global food prices declined slightly in December 2021, with global prices of vegetable oils and sugar significantly lower than the high levels.

For the year 2021 in general, the average "FAO" food price index reached 125.7 points, an increase of 28.1% over the previous year, due to the continued high cost of production inputs, the continuing global epidemic "Corona" and the increasingly ambiguous climatic conditions that do not leave much room for optimism about the return. to more stable market conditions even in 2022.

In 2021 the FAO Cereal Price Index reached its highest annual level since 2012 and averaged 27.2% over 2020, with the price of maize rising by 44.1%, wheat by 31.3%, but rice down by 4.0%.

The FAO Vegetable Oil Price Index reached an all-time high, with an increase of 65.8% over 2020.

The FAO Sugar Price Index has declined in 2021, rising by 29.8% from the previous year to its highest level since 2016.

As for the FAO Meat Price Index in 2021, it rose 12.7% higher than it was in 2020.

The FAO Dairy Price Index in 2021 was the most upside, rising 16.9% higher than it was in 2020.