In this file:

 

·         Food Costs Ease From Near Record, Offering Inflation Respite

A United Nations index tracking everything from grains to meat fell 0.9% in December,

·         Global Food Prices Climb 28% in 2021

… “‘Nothing fundamentally changed over the last two to three months to make us feel any degree of optimism that the food market is going to resettle at more steady or even lower prices…

 

·         World food prices rise 28% in 2021

Prices hit a 10-year high this year

 

 

Food Costs Ease From Near Record, Offering Inflation Respite

 

Megan Durisin, Bloomberg

via Yahoo News - January 6, 2022

 

(Bloomberg) -- Global food prices declined from near a record high at the end of last year, offering some respite to consumers and governments facing a wave of inflationary pressures.

 

A United Nations index tracking everything from grains to meat fell 0.9% in December, potentially helping to ease the run-up in prices of grocery store products. Still, the gauge remains near 2011’s all-time high and average prices jumped about 28% in 2021, the most in 14 years.

 

Prices have surged on the back of harvest setbacks and high freight rates, as well as labor shortages and an energy crisis that hit supply chains. Those issues will remain at the fore as farmers face uncertain weather and the prospect of fertilizer shortages in the months ahead. The costs have trickled through to supermarkets, piling pressure on officials and household budgets and worsening hunger, particularly in poor nations.

 

Food costs are unlikely to stabilize for a while yet, according to Abdolreza Abbassian, a senior economist at the UN’s Food and Agriculture Organization.

 

“Nothing fundamentally changed over the last two to three months to make us feel any degree of optimism that the food market is going to resettle at more steady or even lower prices,” he said. “All of the uncertainties are right there, they haven’t disappeared, which means that anything is still possible.”

 

The fall in food prices prices last month was mainly driven by vegetable oils and sugar, the FAO said Thursday.

 

Anger over inflation recently led to violent protests in Kazakhstan, while Sri Lanka unveiled a $1 billion package to temper concerns over pricey food and medical items. Countries including Ukraine, Russia and Argentina have also taken steps to keep food costs in check.

 

Weather worries still abound across major crop suppliers...

 

more

https://news.yahoo.com/food-costs-dip-near-record-090000164.html

 

 

Global Food Prices Climb 28% in 2021

 

Keith Good, Farm Policy News

University of Illinois - January 6, 2022

 

Bloomberg writer Megan Durisin reported on Thursday that, “Global food prices declined from near a record high at the end of last year, offering some respite to consumers and governments facing a wave of inflationary pressures.

 

“A United Nations index tracking everything from grains to meat fell 0.9% in December, potentially helping to ease the run-up in prices of grocery store products.

 

    "Still, the gauge remains near 2011’s all-time high and average prices jumped about 28% in 2021, the most in 14 years."

 

The Bloomberg article noted that, “Food costs are unlikely to stabilize for a while yet, according to Abdolreza Abbassian, a senior economist at the UN’s Food and Agriculture Organization.

 

“‘Nothing fundamentally changed over the last two to three months to make us feel any degree of optimism that the food market is going to resettle at more steady or even lower prices,’ he said. ‘All of the uncertainties are right there, they haven’t disappeared, which means that anything is still possible.'”

 

Durisin added that, “The recent energy crunch has sent fertilizer prices higher too, threatening to further add to food-production costs. There are already signs that farmers are cutting back on nutrient purchases or shifting from grains to less fertilizer-intensive crops.”

 

And Reuters News reported on Thursday that, “World food prices jumped 28% in 2021 to their highest level in a decade and hopes for a return to more stable market conditions this year are slim, the U.N.’s food agency said on Thursday.

 

“The Food and Agriculture Organization’s (FAO) food price index, which tracks the most globally traded food commodities, averaged 125.7 points in 2021, the highest since 131.9 in 2011.”

 

The Reuters article explained that, “A surge in the price of fertilisers, linked in turn to spiralling energy prices, has ramped up the cost of so-called inputs used by farmers to produce crops, raising doubts over yield prospects for next year’s harvests.”

 

document, plus links, chart

https://farmpolicynews.illinois.edu/2022/01/global-food-prices-climb-28-in-2021/

 

 

World food prices rise 28% in 2021

Prices hit a 10-year high this year

 

by Thomas Reuters Foundation

via The Pig Site - 6 January 2022  

 

World food prices jumped 28% in 2021 to their highest level in a decade and hopes for a return to more stable market conditions this year are slim, the UN's food agency said on Thursday.

 

The Food and Agriculture Organization's (FAO) food price index, which tracks the most globally traded food commodities, averaged 125.7 points in 2021, the highest since 131.9 in 2011, reported Reuters.

 

The monthly index eased slightly in December but had climbed for the previous four months in a row, reflecting harvest setbacks and strong demand over the past year.

 

Higher food prices have contributed to a broader surge in inflation as economies recover from the coronavirus crisis and the FAO has warned that the higher costs are putting poorer populations at risk in countries reliant on imports.

 

In its latest update, the food agency was cautious about whether price pressures might abate this year.

 

"While normally high prices are expected to give way to increased production, the high cost of inputs, ongoing global pandemic and ever more uncertain climatic conditions leave little room for optimism about a return to more stable market conditions even in 2022," FAO senior economist Abdolreza Abbassian said in a statement.

 

A surge in the price of fertilisers, linked in turn to spiralling energy prices, has ramped up the cost of so-called inputs used by farmers to produce crops, raising doubts over yield prospects for next year's harvests...

 

more, including links

https://www.thepigsite.com/news/2022/01/world-food-prices-rise-28-in-2021