In May the prices of the food increased worldwide at the fastest rate in more than 10 years, even as global cereal production is about to hit new records. It lets you know FAO, specifying that the food price index stood at 127,1 points last month, the highest figure since September 2011, for an increase of 4,8% compared to last April and 39,7% compared to May 2020. This is the twelfth consecutive monthly increase.
Above all, the FAO dei index is driving the prices cereal prices, up 6% since April on the back of international prices but, which on average exceeded those recorded in the same month last year by 89,9%.
On the other hand, corn prices started to decline in late May, mainly thanks to the better outlook on the production front in the United States.
Even the international prices of the germ they showed a decline at the end of last month, but were still 6,8% higher than in April.
The international quotations of the ricehowever, they remained stable.
As regards the FAO index relating to the prices ofvegetable oil, rose 7,8% in May, mainly reflecting higher quotations for palm, soybean and canola oil.
In detail, the prices ofPalm oil they rose on slow production growth in Southeast Asian countries, while prospects for robust global demand, particularly from the biodiesel sector, drove soybean prices higher.
On the side of cup sugar, the FAO index rose 6,8% from April, mainly due to harvest delays and concerns about reduced production in Brazil, the world's largest sugar exporter. In any case, large export volumes from India have helped ease the price hike.
The FAO price index meat instead, it increased by 2,2% on a monthly basis, with rising prices for all types of meat mainly due to the increase in imports from China.
finally, the FAO price index dairy products rose 1,8% for the month, topping its May 28 average by 2020%. The increase was driven by solid demand for powdered milk, while butter prices fell for the first time in nearly a year due to increased exports from New Zealand.
