World food prices in November continued to rise for the second month in a row and reached their highest level in the past six years, according to a report by the United Nations Food and Agriculture Organization (FAO).
According to the report , the FAO food price index in November rose 3.9% compared to October and 6.5% compared to November 2019.
It is noted that in November in relation to October in the world all types of agricultural products have risen in price. Vegetable oil prices increased the most – by 14.5%, which is the highest since March 2014.
“This surge is mainly due to the jump in palm oil prices, along with further increases in soybean, rapeseed and sunflower oil prices,” FAO explained.
World prices for cereals increased by 2.7% over the month, sugar – by 2.8%, dairy products rose by 0.9%, meat – also by 0.9%.
At the same time, the cost of cereals in November 2020 was almost 20% higher than in November last year.
“Wheat export prices have continued to rise this month, mainly due to projected declines in export supplies and deterioration of crop types in Argentina. two large exporting countries – the United States of America and Ukraine,” it was report
