Global Food Prices on the Rise: UN Report Highlights 3rd Consecutive Month of Increase
The United Nations world food price index increased for the third straight month in May. This rise is attributed to higher cereal and dairy product prices, which surpassed the decreased prices of sugar and vegetable oils. The FAO's index hit 120.4 points, marking a 0.9% increase from April.
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The United Nations world food price index rose for a third consecutive month in May, as higher cereals and dairy product prices outweighed decreases in prices for sugar and vegetable oils.
The UN Food and Agriculture Organization's (FAO) price index, which tracks the most globally traded food commodities, averaged 120.4 points in May, up 0.9% from its revised April level, the agency said on Friday.
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