The Food and Agriculture Organization’s (FAO) food price index rose to an average of 107.5 points in December 2020, marking an increase of 2.3 points from November 2020. This data indicates the seventh consecutive month of rising costs.
Understanding the Index
The FAO Food Price Index (FFPI) was first introduced in 1996 as a public utility designed to monitor developments in global agricultural commodity markets. The FFPI is a measure of the monthly change in international prices of a variety of food commodities. Specifically, it tracks changes for a basket of cereals, oilseeds, dairy products, meat, and sugar. The base period for this measurement is defined as 2014-2016.
About the Food and Agriculture Organization
The FAO operates as a specialized agency of the United Nations with a mission to lead international efforts to combat hunger. Each year, World Food Day is celebrated globally on October 16th to commemorate the founding of the FAO in 1945. For example, in 2020, India released a commemorative coin of Rs. 75 denomination to mark the 75th Anniversary of the FAO. Headquartered in Rome, Italy, the FAO works alongside sister organizations such as the World Food Programme and the International Fund for Agricultural Development (IFAD).
FAO’s Key Initiatives
The FAO has implemented several key initiatives as part of its ongoing mission. Among these are the Globally Important Agricultural Heritage Systems (GIAHS), which recognize and support traditional agricultural systems and landscapes that are rich in globally significant biodiversity. The FAO also monitors the worldwide Desert Locust situation, an effort crucial for preventing and managing potential locust outbreaks which can have devastating effects on agriculture and food security.
Moreover, the Codex Alimentarius Commission (CAC) is under the FAO’s purview. CAC takes responsibility for all matters pertaining to the implementation of the Joint FAO/WHO Food Standards Programme. Another significant undertaking by the FAO was the adoption of the International Treaty on Plant Genetic Resources for Food and Agriculture in 2001.
FAO’s Flagship Publications
The FAO disseminates valuable information related to food and agriculture through its flagship publications. These include; “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), and “The State of Agricultural Commodity Markets” (SOCO). Through these publications, the FAO provides comprehensive analyses and insights into global food and agricultural challenges and opportunities.
Throughout its history and work, the Food and Agriculture Organization has demonstrated its commitment to defeating hunger and ensuring the sustainability of global agriculture and food systems. Regularly monitoring and reporting on food prices, as well as implementing key initiatives and publishing insightful research, are all integral parts of the FAO’s essential role.
