Stock market analytics, financial forecasts

Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

World food prices reached a record high in February


March, 05 2022
watermark Economic news

According to the Food and Agriculture Organization of the United Nations, world food prices in February reached a historic record.


The food price index in February was 140.7 points, which is 3.9% higher than in January. Compared to February last year, the indicator increased by 24.1%. It is noted that the most significant increase was demonstrated by the prices of vegetable oils and dairy products.


The price index for vegetable oils increased by 8.5% compared to January and became a record - mainly due to the increase in quotations of palm, soybean and sunflower oils. The price index for dairy products in February increased by 6.4% compared to its January value. The grain price index increased by 3%. International rice prices increased by 1.1%, wheat prices increased by 2.1%. The meat price index increased by 1.1% compared to January.


The only product that showed a decrease in cost is sugar. The sugar price index decreased by 1.9% – against the background of favorable harvest forecasts in the main exporting countries (India, Thailand, Brazil).


In general, experts are concerned about the current rise in food prices around the world. One of the reasons for this, they call the unsatisfactory condition of crops and insufficient amount of export stocks. In addition, even stronger price increases are fueled by factors unrelated to production, namely, the situation in the energy sector, fertilizer and feed production.


Feedback

ForexMart is authorized and regulated in various jurisdictions.

(Reg No.23071, IBC 2015) with a registered office at Shamrock Lodge, Murray Road, Kingstown, Saint Vincent and the Grenadines

Restricted Regions: the United States of America, North Korea, Sudan, Syria and some other regions.


© 2015-2024 Tradomart SV Ltd.
Top Top
Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.