Global Food Prices in May 40% Higher Than Last Year

Global food prices rose in May at their fastest monthly rate in more than a decade, even as world cereal production is on course to reach a new record high, the Food and Agriculture Organization of the United Nations (FAO) announced in its latest report.

The FAO Food Price Index averaged 127.1 points in May, 4.8 percent higher than in April and 39.7 percent higher than in May 2020.

A surge in the international prices of vegetable oils, sugar and cereals led the increase in the index, which tracks monthly changes in the international prices of commonly-traded food commodities, to its highest value since September 2011 and only 7.6 percent below its all-time peak in nominal terms, according to the report published on the official FAO website.

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Food and Agriculture Organization of the United Nations

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