World food prices reach 19-month high in November, UN says

The United Nations' world food price index rose in November to its highest level since April 2023, driven by surging vegetable oil quotations, data showed on Friday.

The price index, compiled by the U.N. Food and Agriculture Organization FAO to track the most globally traded food commodities, increased to 127.5 points last month from a revised 126.9 points in October.

In a separate report, the FAO marginally lowered its forecast for global cereal production in 2024 to 2.841 billion tons from a previous forecast of 2.848 billion.