Global food prices hit an 18-month high in October, driven by rising vegetable oil costs.

In October, global food prices reached an 18-month high, with the UN Food and Agriculture Organization (FAO) reporting a 2% increase in its food price index to 127.4 points. The rise was primarily driven by a 7.3% surge in vegetable oil prices, linked to production concerns. Other commodities like sugar and dairy also saw price increases, while meat prices slightly declined. Despite the rise, prices remain 20.5% lower than the peak in March 2022.

November 08, 2024
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