FAO Food Price Index: Food prices drop to lowest in five years
Food Navigator highlights new data Food and Agriculture Organisation’s (FAO) recent Food Price Index, which measures the monthly change in international prices of food commodities.
Their latest statement said that global food prices have dropped to their lowest level since July 2010 and that the dip was caused by improved supplies, falling crude oil prices and a strong US dollar.
Vegetables and dairy are the only two commodity groups that have seen an increase in prices on January 2015. The rest of the groups, cereals, meat and sugar have all seen a decline, said the food price index.
While some of the food system challenges facing humanity are local, in an interconnected world, adopting a global perspective is essential. Many environmental issues, such as climate change, need supranational commitments and action to be addressed effectively. Due to ever increasing global trade flows, prices of commodities are connected through space; a drought in Romania may thus increase the price of wheat in Zimbabwe.