In March, world food prices rose by 12.6% and the FAO Meat and Slaughter By-Products Price Index averaged 120.0 points, up 5.5 points (4.8%) from February (the all-time high). Prices of beef slaughter products have risen as low slaughter has persisted in some key producing regions, while global demand has remained solid.
The FAO Food Price Index (FFPI) averaged 159.3 points in March 2022, up 17.9 points (12.6%) from February, making a giant leap to a new high since its inception in 1990. The latest increase reflects the new all-time high for vegetable oil, cereal and meat sub-indices, while sugar and dairy sub-indices are also growing significantly.
