In February 2022, the global food price index increased by 20.7% year-on-year From FAO

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In February 2022, the FAO food price index (FFPI) averaged 140.7 points, an increase of 5.3 points (3.9%) over January and a year-on-year increase of 24.1 points (20.7%). This represents a new historical high, 3.1 percentage points higher than the previous high (February 2011).

In February, the FAO grain price index averaged 144.8 points, up 4.2 points (3%) from January and 18.7 points (14.8%) from a year ago. All major grain prices rose in February. World wheat prices rose 2.1%. Crude grain export prices also rose by 4.7%. World corn prices rose 5.1% month on month due to continued concerns about crop conditions in Argentina and Brazil, rising wheat prices and uncertainty about corn exports from Ukraine, a major exporter. In terms of other coarse grains, the export prices of sorghum and barley were stronger month on month, up 5.9% and 2.7% respectively. International rice prices rose 1.1% in February, mainly due to the appreciation of currencies of some exporting countries against the US dollar and the strong demand for fragrant rice from East Asian buyers.

In February, the FAO vegetable oil price index averaged 201.7 points, up 15.8 points (8.5%) month on month, a record high.

In February, the FAO dairy price index averaged 141.1 points, up 8.5 points (6.4%) from January, and rose for six consecutive months, making the index 28 points (24.8%) higher than the same period last year.

In February, the average FAO meat price index was 112.8 points, with a month on month increase of 1.2 points (1.1%) and a year-on-year increase of 15 points (15.3%). In February, strong global import demand pushed the international beef quotation to a record high.

In February, the FAO edible sugar price index averaged 110.6 points, down 2.1 points (1.9%) from January, the third consecutive month of decline, reaching the lowest level since July last year. The good production prospects of major exporting countries, especially India and Thailand, coupled with the improvement of planting conditions in Brazil, continue to put pressure on the world sugar price.

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