The vegetable oil price index increased 5.8% to its highest level since May 2012, driven in part by lower-than-expected palm oil production in Indonesia and Malaysia
ROME: Global food prices rose for an eighth consecutive month in January to their highest since July 2014, the United Nations food agency said on Thursday, as economies continue to battle fallout from the COVID-19 pandemic.
The Food and Agriculture Organization's food price index, which measures monthly changes for a basket of cereals, oilseeds, dairy products, meat and sugar, averaged 113.3 points last month December's 108.6, revised up from 107.5. Jumps in cereals, sugar and vegetable oils led the rise, the agency said.
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