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Global Food Prices at Six-Year High Are Set to Keep On Climbing

  • UN gauge of food prices has rallied for seven months
  • Costs will probably rise further this year, UN economist says
Operations Inside Rungis Wholesale Food Market

Photographer: Marlene Awaad/Bloomberg

Global food prices reached a six-year high in December and are likely to keep rising into 2021, adding to pressure on household budgets while hunger surges around the world.

A United Nations gauge of food prices has jumped 18% since May, as adverse weather, government measures to safeguard supplies and robust demand helped fuel rallies across agricultural commodities from grains to palm oil. Prices will likely climb further, the UN’s Food & Agriculture Organization said.