The FAO’s monthly report on food price trends was released on July 11. The bulletin reports on recent food price developments at the global, regional, and country levels, with a focus on developing countries and provides early warnings for high country-level food prices that may negatively affect food security.
The World Bank recently released the Africa Climate Business Plan, which aims to raise awareness of and accelerate resource mobilization for prioritized climate adaptation and low-carbon initiatives in Africa. Climate-related factors are involved in most of the shocks that keep or push African households into poverty; these include natural disasters, health shocks, crop losses and food price shocks.
The FAO Food Price Index rose again in June for the fifth consecutive month, based largely on surging sugar prices and more moderate increases for cereals, dairy, and meat. The 6.6 point increase represents the largest monthly movement in the last four years.
The Cereals Index rose 4.4 points from May, but remains 3.9 percent below June 2015 levels. Strengthened maize prices drove most of this month's increases, as tightening export supplies in Brazil caused prices to rise.
An estimated one-third of all food produced globally is lost or wasted, according to the FAO, costing the world an estimated $940 billion per year. Food loss and waste (FLW) also exacerbates food insecurity and malnutrition, depletes natural resources, and generates an estimated 8 percent of global greenhouse gas emissions. Reducing food loss and waste can therefore be a triple win: saving money for farmers, companies, and households, improving food security, and reducing environmental pressures on water, land, and the climate.
The June FAO Monthly Report on Food Price Trends saw mixed trends for international wheat prices in May, but prices generally remained lower than May 2015. The benchmark US wheat price averaged USD 193 per tonne in May; this was down four percent from April and 17 percent below its May 2015 level. The report cites that this drop in price is due mainly to improved global 2016-2017 production prospects.