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Global food prices post biggest jump in decade
By Emiko Terazono
Financial Times, London
Thursday, June 3, 2021
Global food prices surged by the biggest margin in a decade in May as one closely watched index jumped 40 percent, raising fears of further food inflation later in the year.
The year-on-year leap in the U.N. Food and Agriculture Organization's monthly food price index was the largest since 2011 and signalled that inflation initially stoked by pandemic disruption is accelerating.
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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 an important benchmark for internationally traded agricultural commodities and the increase brings it to its highest level since September 2011. ...
... For the remainder of the report:
https://www.ft.com/content/8b5f4b4d-cbf8-4269-af2c-c94063197bbb
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