World food prices hit record high!Capital speculation, international beans rise


The global food price index rose 1.1 percent last month, nearing the record high of 2011, led by higher vegetable oil and dairy prices, the UN Food and Agriculture Organization reported on February 7.The fao said the impact of the energy crisis, reduced export supplies and other supply-side constraints, particularly Labour shortages and adverse weather, had pushed up prices.The vegetable oil index rose 4.2% month-on-month in January to a record level, the report said.The dairy price index also rose 2.4 per cent, the fifth consecutive monthly increase.The grain price index rose just 0.1 per cent, with corn up 3.8 per cent.Meat prices edged up, while the sugar price index fell 3.1 per cent month-on-month, mainly due to good production prospects in exporting countries India and Thailand.World wheat prices, meanwhile, fell 3.1 percent due to bumper harvests in Australia and Argentina.The FAO warns that higher food prices will lead to broader inflation as the economy recovers.Iran’s food security headquarters has ordered the immediate import of rice and potatoes and imposed a heavy tax on potato exports in response to rising prices in its domestic market, Iran’s PRESS TV reported.South American extreme weather Hits soybeans hard!Capital speculation!Domestic soybean meal futures limit!International beans surged during the Spring Festival holiday, with soybean prices rising 7% and soybean meal 9%.Soybean meal futures rose by the daily limit of 8%, hitting a new high in nearly 8 months.Rapeseed meal jumped more than 8% to a record high.In addition, beans rose 7%.Since the end of January, soybean futures in Chicago have surged and hit new contract highs.On the one hand, soybean production continues to deteriorate due to weather in southern Brazil, Argentina and Paraguay, leading to lower production forecasts for South America.On the other hand, the market speculation South America dry weather, speculative capital influx, leading to the United States plate soybean varieties rose substantially.Peter Meyer, head of Global Platts research at S&P, said he felt speculative money played a big role.The sharp ups and downs of the market reflects the current high emotional.Traders are afraid to miss the big market, not afraid to be afraid to step empty mentality becomes more and more obvious.How does our country continue to stabilize the rice bowl?Since the outbreak of COVID-19, global food markets have become more volatile, with agricultural prices rising sharply.Therefore, while food supply is sufficient, we should also see many challenges facing food production.The Chinese academy of agricultural sciences researcher at the institute of agricultural resources and agricultural regionalization, Mr Jiang to China express news agency said the 2021 international record nearly ten years, food prices COVID – 19 the spread and loose monetary effects, combined with the climate change lead to local extreme drought flood risk remains of grain production region, expected this year the possibility of international food prices are high and volatile slants big,The likelihood of a significant pullback is low.High national food prices will have an impact on China’s food prices.In the face of complicated international grain pattern and the challenge for the domestic production, the central economic work conference in China and the central rural work conference on food security attaches importance to “overweight”, emphasize to ensure good primary products supply is a major strategic issues, the Chinese rice bowl firmly end at any time in our own hands.In view of the international grain price fluctuations impact on domestic, guo-xiang li pointed out that international prices mainly wheat and oil, wheat and other food China is completely can be self-sufficient, soybean and oil will continue to rely on import, but according to the government’s plan, this year China will plant expanding soybean and oil, so as to reduce the dependence on imports, enhance the ability to resist external risk.Source: Ministry of Commerce website Economic and Commercial Office of the Embassy of the Islamic Republic of Iran, Master Boyi, China is still preparing for a rainy day

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