GLOBAL MARKET INFORMATION
The FAO Food Price Index averaged 116 points in February 2021, 2.8 points higher than in January, marking the 9th month of consecutive rise and reaching its highest level since July 2014. The February increase was led by strong gains in the sugar and vegetable oils sub -indices, while those of cereals, dairy and meat also rose but by a lesser extent.
The FAO Cereal Price Index averaged 125.7 points in February, up 1.5 points from January and 26.3 points above its February 2020 level.
Among major coarse grains, international sorghum prices increased the most.
International maize prices also rose, albeit by only 0.9 percent from the previous month.
Maize export prices in February were up 45.5 percent from the previous year, underpinned by continued strong import demand amidst shrinking export supplies.
International rice prices also edged up some more, driven by demand for lower quality Indica and Japonica rice.