"While prices for cereals have remained steady, vegetable oils have seen a dramatic 24% rise in price compared to March 2024," Tothova explained. This surge in the cost of palm, soybean, and rapeseed oils is particularly concerning for regions like Africa, where these oils are essential for cooking.

Tothova, who specialises in food pricing and market analysis, further elaborated that the FAO Food Price Index tracks five key commodities: cereals, vegetable oils, meat, dairy products, and sugar. "These are the primary food items traded on international markets, with other items like fruits and vegetables remaining less involved in global trade," she noted.

She pointed out that the FAO’s index remained relatively unchanged in March, despite the lingering effects of geopolitical tensions such as the ongoing war in Ukraine. "The agricultural sector has shown resilience in the past," she added, referencing the industry's recovery after disruptions caused by the COVID-19 pandemic.

Tothova also said that the prices reflected in the FAO index are for bulk commodities, not the final prices consumers pay in stores. "Once these goods reach the market, factors like transportation, packaging, and processing contribute to higher retail prices," she said.

Looking ahead, Tothova discussed the impact of climate change on food security, noting that while some crops, like wheat and maize, are grown across both hemispheres, region-specific crops like cocoa and coffee are more vulnerable to climate-related disruptions. "This could lead to higher prices for consumers, particularly in areas reliant on these specialised crops," she warned.

--ChannelAfrica--