World Food Prices Jump To Six-year High —UN

0

THE United Nations food agency Thursday says Global food commodity prices has rise sharply in November to their highest level in nearly six years, due in part to adverse weather conditions.

The Food and Agriculture Organisation said prices of the most globally traded foodstuffs were up across the board, putting extra pressure in particular on 45 countries that need outside help feeding their populations.

The FAO Food Price Index averaged 105 points during the month, up 3.9 percent from October and 6.5 percent from a year earlier.

READ ALSO: EndSARS: Police Want Court To Stop Judicial Panels’ Probes Into Brutality

The sugar price index was up 3.3 percent month-on-month amid “growing expectations of a global production shortfall” as bad weather sparked weaker crop prospects in the EU, Russia and Thailand.

Dairy prices also rose 0.9 percent to near an 18-month high, in part because of a boom in sales in Europe. Meat prices were up 0.9 percent from October, but significantly down on a year ago, the report said.

The increase in prices is an extra burden for those who saw their income fall as a result of the coronavirus pandemic, which the FAO said is proving to be “an important driver of the levels of global food insecurity.

“Forty-five countries, 34 of them in Africa, continue to be in need of external assistance for food,” it said.

READ ALSO: OPINION: The Retrogressive State Of Bomadi And Her Political Leaders Ugly Fang Of Sycopancy

What is more, it noted a risk of above-average rainfall in southern Africa and East Asia, while parts of Near East Asia and East Africa were expecting reduced rains, “conditions that may result in adverse production shocks”.

(AFP/PUNCH)

LEAVE A REPLY

Please enter your comment!
Please enter your name here