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According to a press release, the UN Food and Agriculture Organization (FAO), the world index of food prices for 2021 rose by 27.6 points in annual terms and amounted to 125.7 points, the value was the highest since 2011, when the index was 131.9 points.

The global price index in December was 133.7 points after 134.9 points in November.

The FAO Cereal Price Index rose 27.2 percent to 131.2 points last year, with the cost of corn and wheat up 44.1 percent and 31.3 percent respectively due to strong demand and limited supply, with only rice prices showing a 4 percent decline.

The price index for vegetable oils rose 1.66 times to 164.8 points in 2021, the highest annual average.

The average value of the FAO Meat Price Index remained virtually unchanged in December, while at the end of 2021 it was 12.7 percent higher than in 2020.

The dairy price index rose 16.9 percent to 119 points over the whole of last year due to strong import demand, especially from Asia, amid limited supply. The rise in the cost of butter and milk powder continued due to strong global demand and limited supply due to low production in Western Europe and Oceania, the FAO said.

 

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