Why are food prices near an all-time high?

Why are food prices near an all-time high?

Global food prices drop slightly according to the UN’s Food and Agriculture Organisation.

This was led by modest declines in the prices of vegetable oils and cereals.

But food prices remain close to an all-time high exacerbated by the war in Ukraine.



Global food commodity prices went down slightly in April following an all-time high the month before, according to the UN Food and Agriculture Organization (FAO). The drop was led by a slight dip in the prices of vegetable oils and cereals. The FAO Food Price Index averaged 158.5 points in April 2022, down 0.8% from March. But the Index, which tracks monthly changes in the international prices of a basket of commonly traded food commodities, remained 29.8% higher than in April 2021.













This year has seen record prices for global food commodities.





Image: FAO











The FAO Vegetable Oil Price Index decreased by 5.7% in April, shedding almost a third of the increase registered in March, as demand rationing pushed down prices for palm, sunflower and soy oils. Uncertainty over exports out of Indonesia, the world’s leading palm oil exporter, contained further declines in international