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| World Food Prices Hit Record High in 2022 |
| 2023-01-08 |
All credit to President Biden. [ToloNews] A surge in the cost of most food commodities last year, as the disruption caused by Russia's invasion of Ukraine raised concerns of shortages, sent the U.N. food agency's average price index to the highest level on record.The Food and Agriculture Organization's (FAO) food price index, which tracks international prices of the most globally traded food commodities, averaged 143.7 points in 2022, up 14.3% from 2021, and the highest since records started in 1990, the agency said on Friday. The index had already gained 28% in 2021 from the previous year as the world economy recovered from the impact of the pandemic. Food prices surged after Russia's invasion of Ukraine in February last year on fears of disruptions to Black Sea trade. They have pared some of their gains since, in part because of a U.N.-backed grain export channel from Ukraine and the prospect of improved supplies in producing countries. In December the benchmark index fell for the ninth consecutive month to 132.4 points, compared with a revised 135.00 points for November. The November figure was previously given as 135.7 points. "Calmer food commodity prices are welcome after two very volatile years," FAO Chief Economist Maximo Torero said. The decline in the index in December was driven by a drop in the international price of vegetable oils, together with some declines in cereal and meat prices, but mitigated by slight increases in those of sugar and dairy, the FAO said. Still over the whole of 2022, four of the FAO's five food sub-indexes - cereals, meat, dairy and vegetable oils - had reached record highs, while the fifth one, sugar, was at a 10-year high. The FAO Cereal Price Index index rose 17.9% in 2022 due to factors including significant market disruptions, higher energy and input costs, adverse weather and continued strong global food demand, the FAO said. |
| Posted by:trailing wife |
| #1 But some of us have lived in or worked D&R in areas hit by other natural disasters, and saw this coming on a grander, longer scale. Some invested in canned food goods and other 3+ year long term shelf life items. Only suffering fuel and fresh product (eggs, bread milk, bacon) prices. eg. Spam, at a Dollar General store sold for $2.38 back in 2019, now sells for closer to $3.85. 12 oz Canned Corn was 4 for $1 now 2 (11oz) for $1 if you are lucky. Canned 1lbs pre-cooked Ham was $2.35 at several stores now $3.98 . Coffee 48 oz cans $7.95 now 42 oz and $14+ Note: Ollies is selling a private label 48oz $8.98 made by a major coffee brand vendor good to 2025+ Sardines were $.50 now $1 and the new contents look like rejected pieces. Canned chicken was $1, now $1.50 in a smaller can and more water. Canned Tuna was 50 cents now $.75 with more water. Canned Salmon was $2.49 a can, now $4.25 and in a smaller can. All of these canned goods have/had a BB shelf life of 3+ years Gas was $2.23 a Gallon (87octane) then $3.97, then midterms rolled around, and it dropped to $2.45+/- and stayed down for the business needed holiday buying season. It is s now pushing over $3 a gallon. But will likely drop 6 months as we go into the National Campaign cycle. A Shelf life with proper treatment and storage is 18+ months. BTW: The Price of COKE has gotten ridiculous I am seeing discount sale prices of $13 for a 24 can carton with BB dates less than 6 months out and a 24 can carton of BUDWEISER selling for $18 just $5 more. Makes me wish I was a beer drinker again. |
| Posted by: NN2N1 2023-01-08 06:07 |