The global food price index ncreased by 1.9 percent compared to the previous month.
According to estimates, the global food price index increased by only 1.9 percent compared to the previous month, but compared to the same month last year, it has grown by 7 percent.
Experts from the World Food Organization(FAO) believe that the increase in demand and the devaluation of the US-dollar have caused such an increase.
However, estimates show that the FAO’s price index which measures monthly changes in the basket of cereals, oilseeds, dairy products, meat, and sugar, has averaged 96.1 points over the past month. This index was 94.3 during July.
The FAO has said that corn prices have risen 2.2 percent due to what it calls ”concerns about damage to Iowa crops in the United States”.
It should be noted that according to the same report, the chicken meat price index has been almost unchanged since July this year due to declining demand.
Finally, the FAO cut its forecast for global grain production by 2020 due to declining production in the United States. However, the production of this sector in a historic increase will be 58 million tons more than in 2019.