WORLD FOOD PRICE INDEX
- January 8, 2021
- Posted by: OptimizeIAS Team
- Category: DPN Topics
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WORLD FOOD PRICE INDEX
Subject : International Report
Context : World food prices rose for a seventh consecutive month in December, with all the major categories, barring sugar, posting gains last month, the United Nations food agency said.
Concept :
- The Food and Agriculture Organization’s (FAO) food price index averaged 107.5 points last month versus 105.2 in November.
- It consists of the average of five commodity group ( vegetable oil ,sugar, cereals,dairy and meat ) price indices weighted by the average export shares of each of the groups over 2014-2016.
Food and Agriculture Organisation (FAO)
- Established in 1945, the Food and Agriculture Organisation (FAO) has its headquarters in Rome, Italy.
- It was founded with a goal to provide food security for everyone and assure that people will have access to high-quality food in sufficient quantities to achieve a healthy lifestyle.
- Every year, the FAO publishes a number of major ‘State of the World’ reports related to food, agriculture, forestry, fisheries and natural resources.