China’s soaring appetite for grain and soyabeans is adding to upward pressure on prices, along with a severe drought in Brazil and growing demand for vegetable oil for biodiesel. The index is a key benchmark for internationally traded agricultural commodities and the increase brings it to its highest level since September 2011. The rise in world market prices will further increase food price inflation especially among poorer countries reliant on imports for staples. In 2020, the world’s consumer price inflation for food jumped to 6.3 per cent, up from 4.6 per cent in 2019, according to the FAO. The pandemic disrupted food supply chains, affecting the production and distribution of food, with South Asia, sub-Saharan Africa and Latin America among the most affected regions.

https://worldnewsera.com/news/finance/global-food-prices-post-biggest-jump-in-a-decade/