Rome – The United Nations Food and Agriculture Organization (FAO) said on Friday that global food prices last October reached their highest level in 18 months.
This came in a statement issued by the organization, in which it stated that the average FAO food price index reached 127.4 points in October 2024, an increase of 2 percent from its revised level in September and the highest level since April 2023.
The prices of all commodities in the index rose, except for meat.
The FAO Cereal Price Index averaged 114.4 points in October, up 0.9 points (0.8 percent) from September, but still 10.3 points (8.3 percent) below its value in October 2023.
Global wheat prices rose for the second month in a row, mostly reflecting concerns about unfavorable weather conditions affecting winter crop planting in several major exporters in the Northern Hemisphere, including the European and Russian Unions and the United States of America.
The FAO Vegetable Oil Price Index averaged 152.7 points in October, up 10.4 points (7.3 percent) from September, hitting its highest level in two years.
The rise was driven by higher prices in palm, soybean, sunflower and rapeseed oils; Global palm oil prices rose for the fifth consecutive month in October.
The FAO Dairy Price Index reached 139.1 points in October, 2.5 points (1.9 percent) higher than in September and 24.5 points (21.4 percent) higher than its value a year ago.
The FAO Meat Price Index averaged 120.4 points in October, down slightly (0.3 percent) from the revised value for September and 8.4 points (7.5 percent) above its level a year ago.
The FAO Sugar Price Index averaged 129.6 points in October, up 3.3 points (2.6 percent) from September, marking a second consecutive monthly increase, but still down 29.6 points (18.6 percent) from its value a year ago.
Anatolia
#FAO #World #food #prices #October #18month #high
**Interview with Dr. Maria Lopez, Food Security Analyst at the FAO**
**Interviewer:** Thank you for joining us today, Dr. Lopez. Can you tell us more about the recent report from the FAO regarding global food prices?
**Dr. Lopez:** Thank you for having me. On Friday, we issued a report indicating that global food prices soared to their highest level in 18 months as of October. This trend is concerning and reflects ongoing challenges in the global food system.
**Interviewer:** What factors do you believe contributed to this spike in food prices?
**Dr. Lopez:** Several interrelated factors contributed to this increase. These include disruptions in supply chains due to ongoing geopolitical tensions, adverse weather conditions impacting crop yields, and rising costs of fertilizers and transportation. Additionally, global demand for food remains high, exacerbating the situation.
**Interviewer:** How does this price increase impact consumers and food security around the world?
**Dr. Lopez:** The rise in food prices disproportionately affects vulnerable populations, especially in low-income countries where households already spend a significant portion of their income on food. This could lead to higher levels of food insecurity and malnutrition if the trends continue, making it critical to address these underlying issues.
**Interviewer:** What actions can governments and organizations take to mitigate the effects of rising food prices?
**Dr. Lopez:** It is vital for governments to implement targeted support measures for those most affected. This may include subsidies for essential food items, investment in local agriculture, and improving infrastructure to reduce supply chain disruptions. International cooperation is also key, as food security is a global challenge that requires collective action.
**Interviewer:** Thank you, Dr. Lopez, for your insights on this pressing issue. Is there anything else you would like to add?
**Dr. Lopez:** I encourage everyone to stay informed and engaged with food security issues. With the right policies and collaborative efforts, we can build a more resilient food system for the future.
**Interviewer:** Thank you again, Dr. Lopez. This topic is indeed critical as we navigate the challenges ahead.
