Global Food Prices Continue to Rise in April
The Food and Agriculture Organization (FAO) price index recorded an increase in global food prices during April, driven by rising prices of grains, meats, and dairy products. This comes as global market fluctuations continue to impact supply chain stability and food prices.
The average food price index reached 128.3 points in April, marking a 1.0 percent increase compared to March, and a 7.6 percent rise compared to the same month last year, reflecting a rapid escalation in prices across various food categories.
The cereal price index increased by 1.2 percent from the previous month, as wheat prices rose globally due to decreased exportable supplies from Russia. Strong demand for aromatic rice varieties also contributed to the increase in rice prices. Corn prices also rose due to declining seasonal stocks in the United States, while currency fluctuations and changes in trade policies deepened market uncertainty.
The meat sector witnessed a 3.2 percent increase in prices during April, with higher prices across all categories, particularly beef, which surged in both Australia and Brazil due to strong import demand and low export availability.
Moreover, the dairy price index rose by 2.4 percent compared to March, reaching a level 22.9 percent higher than in April of the previous year. This trend reflects increasing pressures on food supply chains amid production and distribution disruptions worldwide.
