Global food prices reach 18-month high: FAO
The FAO Food Price Index, which tracks monthly changes in international prices of a basket of food commodities, reached 127.4 points last month, a two-percent increase from September
Global food prices rose in October to their highest level in 18 months, with a sharp increase in the cost of vegetable oil, the Food and Agriculture Organization said on Friday.
The FAO Food Price Index, which tracks monthly changes in international prices of a basket of food commodities, reached 127.4 points last month, a two-percent increase from September.
It was the highest since April 2023 but still 20.5% lower than the peak reached in March 2022 following Russia's invasion of agricultural powerhouse Ukraine.
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Vegetable oil prices increased by 7.3% in October, reaching a two-year high due to lower production.
Sugar prices rose 2.6%, dairy was up 2.5% and cereals gained 0.8%.
Meat was the only commodity to fall, down 0.3% from the previous month.
The FAO is an agency of the United Nations.
