Bank Of Baku

UN body warns of ’food price shock’‎

UN body warns of ’food price shock’‎
# 06 January 2011 14:05 (UTC +04:00)
The Food and Agriculture Organization’s food price index, which measures monthly price changes for a food basket composed of cereals, oilseeds, dairy, meat and sugar, averaged 215 points last month, up from 206 points in November.

That level, fuelled by soaring sugar prices and strength in cereals and oilseeds, was the highest since records began in 1990, and topped the high of 213.5 in June 2008, during a food crisis that sparked riots in some countries.

Prices of grains surged in 2010, with wheat buoyed by a series of weather events including drought in Russia and its Black Sea neighbours. European wheat prices doubled, United States corn rose more than 50 percent.
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