World food prices increased in March, breaking a seven-month decline streak, according to the FAO.
World food prices increased in March, breaking a seven-month decline streak, according to the UN's Food and Agriculture Organization (FAO). The FAO's food price index, which tracks the most globally traded food commodities, rose to 118.3 points in March, up from a revised 117.0 points in February. The gains were driven by higher vegetable oil, meat, and dairy prices, although food prices remain 7.7% below the year-earlier level. The FAO also slightly upgraded its forecast for global cereal production in the 2023/24 season to 2.841 billion metric tons.
April 05, 2024
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