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Global food prices up after 7-month downward trend!

Vegetable oils, dairy products, meat prices drive higher food prices…

The UN Food and Agriculture Organization (FAO) food price index rose 1.3 points, or 1.1%, to 118.3 points in March compared to February, soaring for the first time after a seven-month of downward trend.

According to the FAO’s press release on Friday, the hike in food prices was driven mainly by vegetable oils, dairy products and meat.

Meanwhile, the index posted an annual decline of 9.9 points, or 7.7%, in March, despite the monthly overall rise.

The cereal price index fell 2.6% to 110.8 points from February and 20% from March 2023.

The index for vegetable oil rose 8% to 130.6 points in March month-on-month.

In its sixth consecutive monthly increase, the dairy price index boosted 2.9% to 124.2 points in March from February.

The Meat price index was up by 1.7% to 113 points, its second consecutive monthly increase.

The Sugar price index went down 5.4% to 133.1 points from February to March but rose 4.8% from March 2023…

About İsmail Uğural

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