The Food Price Index Surge 159.3 % Up By 12.6% As Supply Reduced And Soaring Fertilizer Price

price index fao

The FAO Food Price Index hit a fresh record high of 159.3 points in March of 2022, up 12.6% from February as the war in Ukraine reduced supply and soaring energy and fertilizer costs continue to weigh.

According to FAO, the biggest prices increases were reported for cereals (17.1% month-over-month) due to a surge in prices of wheat and coarse grains and vegetable oils (23%) due to sunflower, palm, soy and rapeseed oil.

The meat index was up 4.8%, also hitting an all-time high with pig meat prices rising the most on record since 1995 due to supply shortfalls in Western Europe and a surge in internal demand in light of the upcoming Easter holidays.

Also, the dairy prices increased by 2.6% due to inadequate milk output in Western Europe and Oceania and the sugar rose 6.7%, reversing most of the previous three months’ decline, as a sharp increase in crude oil prices raised expectations of greater use of sugarcane for ethanol production.

About Haroon Khawaja

Haroon Khawaja Is a Journalist & CEO Of B-Trams , Ex Reporter At Geo News

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