Food Price Index fell in December but was up 26% YOY in 2021

In December 2021, FAO’s world Food Price Index (FPI), adjusted for inflation, fell by almost 1 percent from November, ending a four-month streak of gains averaging 2 percent per month. December’s decline came on weaker pricing for meat, cereal, oils, and sugar, influenced by [...]

World Food Price Index up 1.2% in November, up 25% year on year

FAO reported November’s world Food Price Index (FPI) up 1.2 percent from October’s FPI. Year to date, the 2021 FPI is up about 25 percent from 2020 and up 27 percent from the five-year average (adjusted for inflation). Year to date, the subindexes showing [...]

WASDE: Modest changes to world grain production

In the December WASDE, USDA made no changes to either the U.S. corn or soybean balance sheets. U.S. wheat 2021/22 ending stocks saw a slight increase as exports were cut 20 million bushels to 840 million bushels, and imports were lowered from 115 to [...]

After falling in 2020, the cost of Thanksgiving meal rises in 2021

In its survey of the cost of a Thanksgiving meal, the American Farm Bureau Federation (AFBF) estimated the cost of ingredients for a ten-person meal at $53.31 ($5.33 per person), the highest price in the survey’s 36-year history. The 2021 estimate is up 13.7 [...]

September FAO food price indexes up across the board

Led by cereals, vegetable oils, and dairy, all FAO food price subindexes were up in September. Though gains were modest, the aggregate Food Price Index (FPI) still rose over 1 percent from August. (All values are adjusted for inflation.) The FPI showed monthly gains [...]

Sugar index leads gains in August rebound of Food Price Index

Adjusted for inflation, FAO’s Food Price Index (FPI) rebounded strongly in August after slight declines in June and July. These two down months, however, followed a full year of monthly gains. Source: FAO Among the subindexes, sugar saw the most significant gains in August. [...]

September WASDE is quiet for wheat

After two previous reports that were unexpectedly eventful for wheat, Friday’s WASDE brought only modest changes to the U.S. wheat balance sheet: 2021/22 imports declined 10 million bushels from the August forecast, food use rose 2 million, and ending stocks were lowered by that [...]

U.S. supply chain overwhelmed by demand

Commodity inflation has been challenging enough over the past year, but supply chain issues have multiplied the increase through higher direct costs as well as premiums associated with receiving the product on time. Sourcing U.S.-produced goods may help to soften the impact, but even [...]

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