Global food prices have a range of effects, both positive and negative, on agricultural markets, food prices, and food security in the developing world. Having access to reliable food price information is critical for policymakers, food policy experts, and researchers to be able to respond quickly to dynamic developments in the global food system.
The Food Security Portal, facilitated by IFPRI, has launched a new series of global food price tools, tracking weekly global prices and daily returns of future prices for five staple agricultural commodities– hard wheat, soft wheat, rice, maize and soybeans. Utilizing data from the FAO, CBOT, and KCBT, the tools provide accurate, up-do-date price information.
These tools allow users to visually track changes in global commodities prices dating back to 1998 and changes in returns on future prices dating back to 2001. This information can help explain past food price trends and market policies, which in turn will inform policymakers’ response to the current global economic situation and prepare them for changes to the global food system in the future.
Access these new tools at http://www.foodsecurityportal.org/policy-analysis-tools/agricultural-com….