Global food prices are 32.8 percent higher compared to September of last year according to reports from the Food and Agriculture Organization of the United Nations. The Monthly Food Price index average 130 points in September 2021, up 1.2 percent from last month, also reaching a ten-year high.
The increase was largely driven by higher prices of most cereals and vegetable oils. Dairy and sugar prices were also firmer, while the meat price sub-index remained stable.
The Cereal Price Index averaged 132.5 points in September, up 2.6 points from August and 28.5 points above its level of September 2020. Among the major cereals, world wheat prices increased the most in September, up almost four percent from August and in some cases 41 percent on the year.
The Vegetable Oil Price Index averaged 168.6 points in September, up 2.9 points, while the Dairy Price Index averaged 117.9 points in September, up 1.7 points from August. The Meat Price Index averaged 115.5 points in September, virtually unchanged from August and 24.1 points above its value a year ago.