BUSINESS

Global Food Prices Show Increase

The FAO Food Price Index* (FFPI) averaged 135.7 points in January 2022, 1.5 points (1.1 percent) higher than in December 2021.

The FFPI’s rebound in January was led by solid gains in vegetable oils and dairy sub-indices, partially offset by a decline in sugar prices for the second consecutive month.

Meat and cereal sub-indices remained largely unchanged.

The index tracks monthly changes in the international prices of commonly traded food commodities.

The FAO Vegetable Oils Price Index led the rebound in January, increasing by 4.2 percent month-on-month and reversing its December decline to reach an all-time high.

Quotations for all major oils rose, also supported by rising crude oil prices.

Readers Bureau

Edited by Jesus Chan

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