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International

World food prices rise to highest since May 2015 in August: FAO

Published Thu, Sep 8, 2016 · 08:25 AM
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[ROME] World food prices rose in August to their highest since May 2015, led by dairy, oils and sugar, the United Nations food agency said on Thursday.

The Food and Agriculture Organization's (FAO) food price index, which measures monthly changes for a basket of cereals, oilseeds, dairy products, meat and sugar, averaged 165.6 points in August, 1.9 per cent above the month before.

The index was almost 7 per cent above August last year.

FAO raised its forecast for world cereal production in the 2016-17 season to nearly 2.566 billion tonnes, 40 million tonnes higher than in 2015.

REUTERS

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