UN Warns of Social Unrest as Food Prices Spike

Thursday 14 January 2021, 4:20 AM AEST - 2 weeks ago

Food shortages UK, Jan 2021

Food prices have risen 15% in Brazil, its highest level in two decades, while UN data shows theyve jumped across the board in 2020.

The Cereal Price Index averaged 115.7 points in December, up 1.3 points (1.1 percent) from November, marking the sixth consecutive monthly rise, UN said, adding:

Wheat export prices rose further in December, reflecting tightening supplies among major exporters, concerns over growing conditions in parts of the United States of America and the Russian Federation as well as expectations of lower than-earlier-anticipated wheat shipments from the Russian Federation following its announcement of an export tax/quota.

Among coarse grains, sorghum prices rose sharply in December, as sales from the United States of America, mostly to China, remained robust. Maize export prices moved higher, sustained by continued concerns over crop prospects in South America, with a spillover from sharp increases in soybean prices adding further support.

International rice prices also rose in December, underpinned by tight Thai and Vietnamese availabilities and heightened buyer interest for Indian and Pakistani supplies.

For the year as a whole, the FAO Cereal Price Index averaged 102.7 points, up 6.4 points (6.6 percent) from the 2019 average and marking the highest annual average since 2014.

Tighter supplies and stronger demand raised wheat and maize prices by 5.6 percent and 7.6 percent respectively compared to 2019. In the case of rice, although global import demand remained lackluster in 2020, export prices rose 8.6 percent above their 2019 subdued levels to a six-year high.

Russia imposed a cap on food prices last month while partially empty shelves are reported in Britain following their year long lockdown.

While during summer a gigantic locust swarm hit Africa, ravaging crops in their way for months.

Food inflation is a reality. While people have lost income, they are as we speak going through a tremendously difficult hardship… The rea ...

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