Data disclosed by the United Nations Food and Agriculture Organization on the 3rd showed that the main reason for the rise in global food prices in January was the tight supply of vegetable oil.

 

   The FAO food price index averaged 135.7 points in January, up 1.5 points (1.1%) from December 2021. The FAO vegetable oil price index rose 4.2% month on month in January, reversing the downward trend in December last year and reaching a new high. At the same time, it also drove the overall upward trend of the food price index.

 

   FAO pointed out that the decline in export supply and other supply side constraints, especially labor shortages and adverse weather conditions, have pushed vegetable oil prices to an all-time high. The impact of the above constraints may continue in the short term.