FAOs FOOD PRICE INDEX (Syllabus: GS Paper 3 – Economy)

News-CRUX-10     13th April 2024        

Context: Recently, the Indian government has implemented measures to ensure affordable food prices nationwide, as reflected in the Food and Agriculture Organization (FAO) of the United Nations' food price index.


FAOs Food Price Index

  • About: It was introduced in 1996 as a public good to aid in monitoring global agricultural commodity market developments.
  • Measure of Monthly Changes: It serves as a measure of the monthly change in international prices of a basket of food commodities.
  • Commodity Coverage: The index tracks changes in prices for a basket of cereals, oilseeds, dairy products, meat, and sugar.
  • Base Period: 2014-2016.


Food and Agriculture Organization (FAO)

  • About: It is a specialised agency of the United Nations that leads international efforts to defeat hunger. Its sister bodies are the World Food Programme and the International Fund for Agricultural Development (IFAD).
  • Formation: 16th October, 1945.
  • Headquarter: Rome (Italy).
  • Goal: To achieve food security for all and make sure that people have regular access to enough high-quality food to lead active, healthy lives. 
  • Members: 195 members - 194 countries and the European union
  • World Food Day: Celebrated every year on 16th October.