Strong demand is expected to support world food prices in 2018, although the political situation in oil-producing countries and international trade talks may herald greater volatility, an economist at the UN Food Agencies said Thursday United.
World food prices increased 8.2% in 2017 compared to the previous year, reaching their highest annual value since 2014, according to an index established by the Organization for the past year. Food and Agriculture (FAO). Food in international markets is still 24% cheaper than its high price of 2011, and offers many products in the index of grains, oilseeds, dairy products, meat and sugar remains abundant.
"The general feeling is that we know what supplies are, and there is no excuse for thinking that demand will become weak … so there is momentum building up", said FAO chief economist Abdolreza Abbassian.
The index rose every year despite a 3.3% decline in December from the previous month as dairy, vegetable and sugar prices fell sharply.