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.
This story is from the January 27, 2023 edition of Farmer's Weekly.
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This story is from the January 27, 2023 edition of Farmer's Weekly.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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