Friday, May 6, 2011
The FAO monthly food price report came out yesterday. Levels were about the same as March, down very slightly from the recent peak in February. It will be interesting to see if the selloff in commodity markets in the last few days causes this to go down in April.
For context, it's important to understand that the peaks in food prices in 2008 and 2011 are not that large compared to past food price spikes. However, the FAO index didn't exist back then.