News

World Food Price Index hits record-high

World food prices are at an all-time high. The United Nations Food and Agriculture Organization’s “Food Price Index” rose 3.4 percent in January. That is the seventh consecutive monthly increase and puts the index at the highest it has ever been since its inception in 1990. Cereals, sugar, dairy, fats and oil all went up last month while meat prices held steady.

The previous record for the Index was 224.1 during the food crisis in June of 2008, the January Index is 230.7. While sugar prices are at a record level, the FAO Cereals Index which includes wheat, rice and corn is still 11 percent below the all-time high set in April of 2008.

The increase has intensified concerns of more civil unrest around the globe, rising food prices have contributed to protests in the Middle East and Northern Africa. Yemen is the latest country to face large demonstrations calling for a change in leadership.