Food prices reached new highs in 2022 - FAO
Farmer's Weekly|January 27, 2023
The Food and Agriculture Organization of the United Nations (FAO) saw its overall Food Price Index last year reach the highest level on record when the cost of most food commodities surged.
Food prices reached new highs in 2022 - FAO

This was due to the disruptions caused by the Russia-Ukraine war, which raised concerns about shortages of major commodities such as wheat and maize.

The index, which tracks monthly changes in the international prices of the most commonly traded food commodities, averaged 143,7 points in 2022, up 18 points or 14,3% year-on-year (y/y). This was the highest increase since record-keeping began in 1990, the FAO said in a statement in early January.

According to Reuters, in 2021 the index was already 28% higher y/y due to a recovery in the global economy from the fallout of the COVID-19 pandemic.

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