started · updated
FAO Food Price Index rises to highest level since November 2022
The FAO Food Price Index rose by 1.5% in September to an average of 136 points, marking its highest level since November 2022. This increase was primarily driven by rising prices in cereals, sugar, and vegetable oils.
Cereal prices climbed 5.1% due to logistical constraints in the Black Sea and drought conditions in parts of North America. Specifically, wheat prices rose 6.3%, while corn prices increased 5.6% amid yield concerns in the United States and export constraints in Brazil. Sugar prices saw a significant 6.1% jump, driven by El Niño-related supply concerns.
Vegetable oil prices rose 0.9%, influenced by palm oil demand and Southeast Asian drought risks. Conversely, the meat price index fell by 1.1% due to high export supplies of poultry and pork. FAO Chief Economist Maximo Torero warned that ongoing disruptions in the Strait of Hormuz and the Black Sea, combined with climate shocks, could soon pass these commodity price pressures through to consumer food prices, particularly in import-dependent nations.
Entities
Black Sea · El Niño · Food and Agriculture Organization of the United Nations · Máximo Torero · North America · Strait of Hormuz · United States
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 19 SOURCES] Global wheat prices increased by 6.3% due to Black Sea logistics and North American weather. ohridsky.com · www.tv5.com.tr · denesen.mk · www.borsaningundemi.com · www.insider.gr · +14 more
- [● 19 SOURCES] The food price index reached its highest level since November 2022. www.tv5.com.tr · denesen.mk · www.borsaningundemi.com · radioh.no · ohridsky.com · +14 more
- [DISPUTED] The FAO meat price index decreased by 1.1% due to high export supplies of poultry and pork. www.tv5.com.tr · denesen.mk · www.insider.gr · www.businesstimes.com.sg · ohridsky.com · +13 more
- [DISPUTED] Global sugar prices increased by 6.1% compared to August. denesen.mk · ohridsky.com · www.insider.gr · www.businesstimes.com.sg · radioh.no · +13 more
- [● 19 SOURCES] Maximo Torero warned that rising commodity prices could soon impact consumer food prices, especially in import-dependent nations. ohridsky.com · www.tv5.com.tr · www.borsaningundemi.com · radioh.no · denesen.mk · +14 more
- [● 20 SOURCES] The FAO Food Price Index rose by 1.5% in September compared to August. ohridsky.com · www.tv5.com.tr · denesen.mk · www.borsaningundemi.com · radioh.no · +15 more
- [● 19 SOURCES] Logistics disruptions in the Black Sea and the Strait of Hormuz are contributing to rising food prices. ohridsky.com · www.tv5.com.tr · www.borsaningundemi.com · radioh.no · www.insider.gr · +14 more
- [● 19 SOURCES] Global corn prices rose by 5.6% due to US yield concerns and Brazil export constraints. ohridsky.com · www.tv5.com.tr · www.borsaningundemi.com · denesen.mk · www.insider.gr · +14 more