ANKARA: Global food prices increased 14.3 percent year on year in 2022, the United Nations (UN) Food and Agriculture Organization (FAO) said Friday.
The FAO food price index rose 18 points from the previous year to 143.7 points in 2022.
The index measures monthly changes in international prices of five major food commodity groups – cereal, meat, dairy products, vegetable oils, and sugar.
The dairy price index, according to FAO, jumped 19.6 percent, registering the highest annual average on record since 1990 with 142.5 points.
The cereal price index rose 17.9 percent, from 2021 to a record high of 154.7 points in 2022, led by significant market disruptions, increased uncertainties, higher energy and input costs, adverse weather in a few key suppliers, and continued strong global food demand.
The vegetable oil price index hit a record high of 187.8 points last year, rising 13.9 percent from a year ago.
The meat price index also grew 10.4 percent from 2021 to 118.9 points in 2022, the highest annual average since 1990.
The FAO sugar price index went up 4.7 percent year on year to 114.5 points, the highest annual average since 2012.
Source: Philippines News Agency
