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Food, fertilizer prices fall, but concerns over inflation remain
Food prices fell by 0.8 percent in January, according to the FAO Food Price Index. This latest decline brings the Index to the lowest point seen since its peak in March 2022.
FAO Food Price Index Released
The FAO Food Price Index held steady in November and was only 0.3 percent above its November 2021 level. Rising vegetable oil prices were checked by declines in cereal prices.
FAO Food Outlook Sees Surging Food, Agricultural Import Bills
The latest Food and Agriculture Organization of the United Nations (FAO) Food Outlook, released on November 11, 2022, sees continued challenges for global food security due to high energy and fertilizer costs, climate change, trade restrictions, economic downturns, and continuing conflicts around the world.
Concerns over Black Sea Grain Initiative and the Impact on Food Prices: FAO Food Price Index and AMIS Market Monitor Released
The October FAO Food Price Index remained largely unchanged from September, with rising cereal prices balanced by declines in the other commodity groups. The overall Food Price Index has fallen by almost 15 percent from March 2022 but remains 2 percent above its October 2021 levels.
High fertilizer prices contribute to rising global food security concerns
Like people, plants need a multitude of nutrients to thrive. These are categorized into micronutrients, such as zinc and iron; secondary macronutrients; such as calcium and magnesium; and three primary macronutrients: nitrogen (N), phosphorus (P), and potassium (K). Mineral fertilizers provide higher and more plant accessible nutrients, while organic minerals importantly also provide carbon, which contributes to healthy soils.