Q. Consider the following statements about World Food Price Index:
1. It is a released by Food and Agriculture Organization (FAO) since 1996.
2. The index is a measure of the weekly change in international prices of a basket of food commodities.
Which of the statements given above is/are correct?
Answer: A
Notes:
About World Food Price Index:
Released by: Food and Agriculture Organization (FAO) since 1996.
Aim: To help in monitoring the developments in the global agricultural commodity markets.
Purpose: The index is a measure of the monthly change in international prices of a basket of food commodities.
Commodities: It consists of the average of five commodity group price indices. Such as cereal, vegetables, dairy, meat and sugar. Also, these five indices is given weightage based on the average export shares.
Base Year: 2014-16.
Source: ForumIAS
