The United Nations Food and Agricultural Organization has published the Index of Food Commodities for February 2022.  Inflation is evidenced by a 20.7 percent increase to 140.7 points, up from February 2021 and up from 135.4 points in January 2022.  Price increases were driven by vegetable oil and dairy with contributions from meat. 

During February there was a strong demand for beef with restricted supplies from Brazil.  Australia is rebuilding herds after drought losses and hog numbers in China and other nations have not been restored to levels prior to the emergence of African swine fever.