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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.

Key Points

  • 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:
    • Flagship Publications:

Source: TH

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