Food prices at 15-month high
Sugar, dairy and oils were the catalysts for growth in global food prices last month, according to the latest release of the FAO Food Price Index, while cereals and meat prices remained stagnant. The Index now sits at a 15-month high.
The Index of a basket of food commodities (sugar, dairy, meat, cereals and oils and fats) reached 171.9 points last month, up 29 points year-on-year and 33 from the lowest point during the downturn (February).
“The main drivers were sugar, oilseeds and dairy which continued to rise in December,” Abdolreza Abbassian, economist at the UN Food and Agriculture Organisation, told Reuters. “But we are still 19-20 per cent below the peak of June 2008”.
The sugar price surged to a record of 334 points in December, while oils and dairy were the other big movers – up seven and eight points, respectively. These catalysts were also the drivers of growth for the calendar year, with meat and cereals prices still hovering at the levels seen at the beginning of 2009.
www.fao.org/worldfoodsituation/FoodPricesIndex/en/
Australian publicly-listed Retail Food Group is to expand its presence into Scandinavia after a Swed...
Blueberries and supplements could be the key to eliminating the “baby blues” says a group of Canadia...
It may seem almost too good to be true, but Nestle says it has found a way to significantly cut the ...
A ‘pharmacy’ specialising in fresh foods has officially opened in the United States.
Ikea wants to help start-ups looking to innovate within the food industry.
The Ferrero Group is close to acquiring Nestle’s US chocolate business an unnamed source is claiming...
An Israeli start-up has developed an app which takes all the guess work out of deciding whether a pi...
BE amazed at how a US employee forced a costly factory shutdown after urinating on a production line...