UN world food price index rose for the third month in May, driven by increased cereal and dairy prices.
The United Nations world food price index rose for the third consecutive month in May, driven by increased cereal and dairy product prices. The FAO Food Price Index, which tracks globally traded food commodities, averaged 120.4 points, up 0.9% from April. Cereal prices rose 6.3% due to concerns about crop conditions affecting 2024 harvests in key producing regions like Northern America, Europe, and the Black Sea region. Dairy prices also increased by 1.8% in May from April.
June 07, 2024
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