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World Food Price Index

Why is it in the news?

  • The United Nation’s FAO recently reported that the world food price index fell to a new two-year low, reversing a previous month’s rebound.
    • Most food commodities experienced decreases, except for rice and sugar prices.

About FPI

  • The Food Price Index (FPI) is a measure of the monthly change in international prices of a basket of food commodities.
  • It consists of the average of five commodity group price indices, which include:
  • Cereals
  • Oilseeds
  • Dairy products
  • Meat
  • Sugar

Each of these commodity group price indices is weighted with the average export shares of each group.

  • The FPI is used to monitor and report on changes in global food prices, reflecting the overall trends and fluctuations in food commodity markets.

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