Date :11 April 2021

FAO: Unprecedented rise in prices of grains and oilseeds in world markets

FAO In its latest report officially announced a rise in food prices for the eighth consecutive month.

The organization’s commentators believe that the price of grains and oilseeds has reached its highest level since July 2014.

According to the same report, released on February 4, the food price index, which measures monthly changes in the basket of cereals, oilseeds, dairy products, meat, and sugar, has risen more than 108 units. This figure was 105 units in November.

Analysts say corn prices in international markets have risen more than 11 percent in recent months, up 42 percent from the same month last year.

Experts preparing the report believe that the lack of increase in production in Argentina, the lack of a clear outlook for exports of this product from countries such as Russia and the United States, and significant purchases of China have caused the increase.

The agency also warned of a possible increase in grain imports from China, given the intensification of pig production. An issue that could push grain prices even higher.

Meanwhile, soybean prices appear to have risen sharply amid declining export opportunities and protracted strikes in parts of the world, such as Argentina.

In a part of its report, the organization warned of a sharp and unprecedented decline in grain stocks around the world. An issue that can paint a very difficult picture for the poultry industry in different parts of the world.

Finally, some commentators believe that due to the increasing outbreak of highly pathogenic avian influenza in various parts of the world, especially in Europe and Asia, the price of chicken meat, which has now risen by more than one percent in world markets, has risen even more.

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