The United Nations World Food Programme warned that an estimated 265 million people could face acute food insecurity by the end of 2020.
World food prices increased for the second consecutive month in July as well as the demand for vegetable oils and dairy products, the United Nations Food and Agriculture Organization (FAO) said on Thursday
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The FAO said that its food price index, which is based on prices of foodstuffs most frequently traded, rose to 94.2 points in July, a 1.2 percent increment compared to June
On the other hand, FAO Vegetable Oil Price Index reached 7.6 percent, the highest value in the five months since the survey started. Moreover, the Dairy Price Index amounted to 3.5 percent, and it affects all products, including butter, cheese, and powdered milk
Nevertheless, the organization points out that the overall prices of cereal have remained practically unchanged since June. However, there was a considerable increase in the cost of corn and sorghum, mainly for the massive amounts of these products China has purchased from the United States
Global #foodprices continued rising for the second consecutive month in July (��1.2% vs June), led by vegetable oils and dairy products
➡️ https://t.co/iJ9obv4yh7 pic.twitter.com/VgB8DbDyqe
— FAO Newsroom (@FAOnews) August 6, 2020 Besides, the FAO forecasted a “comfortable cereal supply and demand situation” for the period 2020/2021 despite the impact of the COVID-19 pandemic
However, the prices of meat decreased in July by 1.8 percent as both pig and cattle import demand remained below the export availability.
The organization predicts that this year the world total meat production will fall by 333 million tonnes since the majority of pig production is concentrated in Asian countries that have been heavily impacted by African swine fever, a viral disease
In July, the World Bank said that the primary risk to food security posed by the COVID-19 pandemic is still at a country level. The pandemic has caused disruptions in food supply chains as well as the loss of incomes and remittances, which have slowed the food production in many nations
In this sense, the United Nations World Food Programme warned that an estimated 265 million people could face acute food insecurity by the end of 2020.