Have food prices increased over past 60 Years?

Food production has increased dramatically

Food production per hectare globally has more than doubled over the last 60 years, while wheat yields in Western Europe have tripled in the same period(2). The availability and use of fertilizers have been key to this increase. FAO estimates that current food production would be halved without the use of fertilizers in agricultural production. Other reasons for the increase in food production, are more land being used for farming, new technology and farm machinery, better pest and disease management and new plant varieties. Increased food production in line with population growth has been the key factor for maintaining food prices at the same level for 60 years! Keeping prices low in the future, however, is a difficult challenge in a world where the population is growing and there is a lack of new farmable land.

Lower prices help fight poverty

Keeping food prices low is important to help combat poverty. Even though food prices have changed very little for over 60 years, the percentage of household income spent on food varies greatly from country to country.

According to a survey by the US Department of Agriculture in 2015(3), consumers in the US spent 6.4 percent of their household income on food. The countries at the bottom of the list were Cameroon (45.6 percent), Kenya (46.7 percent) and Nigeria (56.4 percent).

If food prices rise sharply, they will make life more difficult for millions of people already struggling to feed their families.

A dramatic rise in food prices will also increase the risk of disorders due to malnutrition and hunger.