Daily Current Affairs Article 20th January 2021: World food prices rose for a seventh consecutive month in December, with all the major categories, barring sugar, posting gains last month.
The Food and Agriculture Organization’s (FAO) food price index is a measure of the monthly change in international prices of a basket of food commodities.
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It consists of the average of five commodity group price indices [cereal, vegetable, dairy, meat and sugar], weighted with the average export shares.
It averaged 107.5 points in December versus 105.2 in November. For the whole of 2020, the benchmark index averaged 97.9 points, a three-year high and a 3.1% increase from 2019.
