Global Food Prices Fall as UN Warns of Catastrophic Hunger in Gaza
The global food price index has dropped significantly, primarily due to decreases in sugar, dairy, and grain prices. Meanwhile, the United Nations has declared a catastrophic hunger situation in the Gaza Strip, with over 640,000 people affected.
The Food and Agriculture Organization of the United Nations (FAO) reports that the food price index fell by 0.7% to 128.8 points last month, the lowest in three months. This decline is largely attributed to drops in key commodity prices. Sugar prices plummeted by 4.1%, reaching their lowest point since March 2021, due to increased production in Brazil and favorable harvest forecasts in India and Thailand. Dairy prices also fell, with butter prices experiencing a sharp drop, contributing to a 2.6% decrease in the dairy index. Conversely, the meat index rose by 0.7% in September, setting a new record, driven by higher global beef and lamb prices.
The UN has sounded the alarm on the hunger crisis in the Gaza Strip. The United Nations Humanitarian Country Team (HCT) for Palestine, comprising organizations like OCHA, FAO, and UNICEF, officially declared the situation as catastrophic, marking the first time such a warning has been issued. This declaration, made in late August, indicates that over 640,000 people are now facing catastrophic food insecurity, classified as IPC Phase 5.
The global food price index, though still high, has shown signs of easing, with the index nearly 20% below its peak in March 2022. However, the situation in the Gaza Strip remains dire, with the UN warning of catastrophic hunger affecting a significant portion of the population. These developments underscore the complex and interconnected nature of global food security.
