World food prices see rise in April, first in a year
Global food prices increased last month for the first time in a year, led by higher prices of sugar, meat and rice, the UN’s Food and Agriculture Organization (FAO) said on Friday.
The FAO Food Price Index, a trade-weighted index that tracks international market prices of five major food commodity groups, averaged 127.2 points, up 0.6% in April from March but down 19.7% from a year ago.
The sugar price index jumped 17.6% month-on-month, reaching its highest level since October 2011 and the index for meat increased 1.3% last month.
The FAO Cereal Price Index, on the other hand, dipped 1.7% from March.
"The increase in rice prices is extremely worrisome and it is essential that the Black Sea initiative is renewed to avoid any other spikes in wheat and maize," said Maximo Torero, the chief economist at FAO.
The vegetable oil price index decreased by 1.3% in the month, seeing its fifth consecutive monthly decline.
The dairy price index slipped 1.7% during the same period.
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