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World food price index
Why is it in news?
- According to Food and Agriculture Organization’s (FAO) food price index, world food prices rose for a seventh consecutive month in December.
Details:
- The food price index measures monthly changes for a basket of cereals, oilseeds, dairy products, meat and sugar.
- For the whole of 2020, the benchmark index averaged 97.9 points, a three-year high and a 3.1% increase from 2019.
- It was still down more than 25% from its historical peak in 2011.
- Vegetable oil prices continued recent strong gains, jumping 4.7% month-on-month in December.
- The cereal price index posted a more modest 1.1% rise in December.