According to the United Nations food agency, world food prices saw a large increase in November. In particular, there was a strong rise in the price of meat and vegetable oils, although cereal prices did become slightly lower than the previous month.
The Food and Agriculture Organisation (FAO) food price index is frequently used to analyse changes in the price of essential foods, including meat, dairy products, sugar, cereals, and oilseeds. Prices are measured on a monthly basis.
In November, this hit a 26-month-high, at an average of 177.2 points. This is 2.7% higher than the previous month and 9.5% higher than the previous year. In addition, it’s predicted that the production of cereal will hit an all time high in 2019, at 2.7 billion tonnes in total.