World Food Price Index: FAO

• 08 Jan 2021

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 16^th 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 75^th Anniversary of the FAO (16^th 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:
    
    • Globally Important Agricultural Heritage Systems (GIAHS).
    • Monitors the Desert Locust situation throughout the world.
    • The Codex Alimentarius Commission or CAC is the body responsible for all matters regarding the implementation of the Joint FAO/WHO Food Standards Programme.
    • The International Treaty on Plant Genetic Resources for Food and Agriculture was adopted by the Thirty-First Session of the Conference of the Food and Agriculture Organization in 2001.
  • Flagship Publications:
    
    • 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).
    • The State of Agricultural Commodity Markets (SOCO).

Source: TH