World food prices have risen sharply in recent months. That is indisputable. The Food and Agriculture Organization of the United Nations (FAO) has reported this Thursday of the alarming situation. A new record has been reached in world food prices. A new high, the highest since July 2011. These figures are relative to FAO Food Price Index, a measure of the monthly variation in international prices of certain products. If you want to know more, ¡do not hesitate to continue reading!
First of all, we must know what the food price index is. Well, it's the average of the price indices of the five commodity groups: meat, dairy products, cereals, vegetable oils and sugar. Each group has a price index. In this way, we can analyze the behavior of prices in each group and obtain real conclusions to act correctly. Therefore, this measurement system provides us with a lot of information.
World food prices
The “boom” data is that such a high rate has not been reached since July 2011. The last month (October 2021) we have reached 133,2 points over the 101,4 last year (October 2020), that is, a Present in several = 31,3% plus. We can observe a very consecutive increase, since it has been occurring since 2020 year. Month after month the international price index rises like foam. From the FAO, they point out that the last month-on-month increase (September-October 2021) is mainly due to the continuous strengthening of world prices of vegetable oils and cereals.
El cereal price index has been located in October in 137,1, un 3,2% more than in September. Although the alarm has not jumped only with this latest rise in the price of cereals. We must look at the prices of the main ones in the market: the wheat. Thus, October becomes the fourth consecutive month of the increasing trend in the price of wheat. And not only that, but its value has also increased considerably compared to last year. We are talking about a year-on-year increase in Present in several = 38,3% and highest level since 2012.
El vegetable oil price index has added 16,3 points to its barometer compared to the previous month, reaching an average of 184,4 points. The highest level of all time. As we well know, vegetable oils have never been a cheap product. In fact, the olive oil It is a product that increases the price of our shopping cart quite a bit. And, in turn, it is essential in the kitchen, especially in Mediterranean gastronomy. Not to mention the rest of vegetable oils such as linseed, sesame, walnut, argan oil, etc., the price of which is not exactly cheap.
Impact of the rise in electricity and gas
The rise of electricity, gas and gasoline directly affects the primary sector, in addition to the rising cost of raw materials and transportation. If it costs more money for agricultural professionals to raise, fish, gather and cultivate, it is logical that they will be forced to raise prices. Otherwise, someone in the food chain would lose money. In the case of hospitality and trade The same is true, however, no significant increase has yet been experienced. Jose Luis Yzuel, president of hospitality in Spain, ensures that:
«We are going to see how all this affects the sector, but in the medium term it is inevitable that they will have to be passed on to the consumer«
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It considers that the impact of rising costs and, inevitably, prices will be felt more towards January. For now, where consumers have already noticed it is in our purchase and in the electricity bill. This is also corroborated by a study carried out by the Organization of Consumers and Users (OCU). Un Present in several = 55% of the products in the shopping cart its price has risen, versus 45% who have lowered them.
To try to appease this price increase, we recommend that you look closely at the products in our basket or take advantage of promotions such as × 2 1, that will help us lower our ticket. And above all: patience. And you, What do you think?
