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FAO Food Price Index (Recent News)

Useful for : IBPS AFO Mains Exam (Agriculture Knowledge), NABARD Asst. Manager, CUET ICAR  PG JRF SRF AO ADO Exam

Source : Food and Agriculture Organization

In August, the price index of the Food and Agriculture Organization (FAO) dropped to its lowest point in two years.

The FAO Food Price Index, created by the Food and Agriculture Organization (FAO), serves as a gauge of monthly fluctuations in global prices for a selection of food commodities. This index is constructed by averaging five separate commodity group price indices (cereals, vegetables, dairy, meat, and sugar), each weighted according to their average export proportions.

Base Year: 2014-16

Additional Key Information about FAO:

  • FAO is a specialized agency under the umbrella of the United Nations, playing a leading role in international endeavors to combat hunger and enhance nutrition and food security.
  • Its overarching mission is to realize food security universally, ensuring that individuals have consistent access to an ample supply of high-quality food, thus enabling them to maintain active and healthy lifestyles.
  • FAO's headquarters are located in Rome, Italy.
  • With a membership encompassing 195 entities, including 194 countries and the European Union, FAO operates in excess of 130 nations around the globe.
  • Notably, the World Food Programme (WFP) and the International Fund for Agricultural Development (IFAD) are closely affiliated sister organizations of FAO.
  • FAO publishes a range of essential reports, including The State of the World's Forests (SOFO), The State of World Fisheries and Aquaculture (SOFIA), The State of Agricultural Commodity Markets (SOCO), and The State of Food Security and Nutrition in the World (SOFI).

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