Global food prices hit 18-month high in October over weather disruptions, rising fuel costs: FAO

Global food prices rose sharply in October, reaching an 18-month high due to weather disruptions and rising fuel costs, according to the UN’s Food and Agriculture Organization (FAO). The FAO Food Price Index hit 127.4 points, up 2% from September, though still 20.5% below the peak in March 2022. Vegetable oil prices saw the largest jump, up 7.3%, due to lower production in Southeast Asia. Grain and cereal prices also rose slightly, while dairy and sugar prices increased due to higher demand and adverse weather in Brazil. Meat prices were the only category to decline, falling 0.3% as supply increased in Western Europe.

Source : CN