World Food Price Index: FAO
- 08 Jan 2021
- 3 min read
Why in News
The Food and Agriculture Organization’s (FAO) food price index averaged 107.5 points in December 2020, up 2.3 points from November 2020.
- This marks the seventh month of consecutive increase.
- About the Index:
- It was introduced in 1996 as a public good to help in monitoring developments in the global agricultural commodity markets.
- The FAO Food Price Index (FFPI) is a measure of the monthly change in international prices of a basket of food commodities.
- It measures changes for a basket of cereals, oilseeds, dairy products, meat and sugar.
- Base Period: 2014-16.
- About the Food and Agriculture Organization:
- FAO is a specialized agency of the United Nations that leads international efforts to defeat hunger.
- World Food Day is celebrated every year around the world on 16th October. The day is celebrated to mark the anniversary of the founding of the FAO in 1945.
- India released a commemorative coin of Rs. 75 denomination to mark the 75th Anniversary of the FAO (16th October 2020).
- It is one of the UN food aid organisations based in Rome (Italy). Its sister bodies are the World Food Programme and the International Fund for Agricultural Development (IFAD).
- Initiatives Taken:
- Globally Important Agricultural Heritage Systems (GIAHS).
- Monitors the Desert Locust situation throughout the world.
- The Codex Alimentarius Commission or CAC is the body responsible for all matters regarding the implementation of the Joint FAO/WHO Food Standards Programme.
- The International Treaty on Plant Genetic Resources for Food and Agriculture was adopted by the Thirty-First Session of the Conference of the Food and Agriculture Organization in 2001.
- Flagship Publications:
- The State of World Fisheries and Aquaculture (SOFIA).
- The State of the World's Forests (SOFO).
- The State of Food Security and Nutrition in the World (SOFI).
- The State of Food and Agriculture (SOFA).
- The State of Agricultural Commodity Markets (SOCO).