Important International Institutions, Agencies and Their Structure, Mandate

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5.WORLD FOOD PRICE INDEX

• The Food and Agriculture Organization’s (FAO) food price index averaged 107.5 points in December 2020, up 2.3 points from November 2020.
• This marks the seventh month of consecutive increase.

ABOUT THE INDEX:

• It was introduced in 1996as a public good to help in monitoring developments in the global agricultural commodity markets.
• The FAO Food Price Index (FFPI) is a measure of the monthly change in international prices of a basket of food commodities.
• It measures changes for a basket of cereals, oilseeds, dairy products, meat and sugar.
• Base Period:2014-16.

ABOUT THE FOOD AND AGRICULTURE ORGANIZATION:

• FAO is a specialized agency of the United Nations that leads international efforts to defeat hunger.
• World Food Day is celebrated every year around the world on 16 October.
• The day is celebrated to mark the anniversary of the founding of the FAO in 1945.
• India released a commemorative coin of Rs.75 denomination to mark the 75 Anniversary of the FAO (16 October 2020).
• It is one of the UN food aid organisations based in Rome (Italy). Its sister bodies are the World Food Programmeand the International Fundfor Agricultural Development (IFAD).

INITIATIVES TAKEN:

• Globally Important Agricultural Heritage Systems (GIAHS).
• Monitors the Desert Locust situation throughout the world.
• The Codex Alimentarius Commission or CAC is the body responsiblefor all matters regarding the implementation of the Joint FAO/WHO Food Standards Programme.
• The International Treaty on Plant Genetic Resources for Food and Agriculture was adopted by the Thirty-First Session of the Conference ofthe Food and Agriculture Organization in 2001.

FLAGSHIP PUBLICATIONS:

• The State of World Fisheries and Aquaculture (SOFIA). The State of the World’s Forests (SOFO).
• The State of Food Security and Nutrition in the World (SOFI).
• The State of Food and Agriculture (SOFA).
• The State of Agricultural Commodity Markets (SOCO).

SOURCE: ECONOMIC TIMES