Global food prices on rise in January

Ankara: Global food prices on rise for the fourth consecutive month in January, FAO the UN food and organization declared.
On a monthly basis, prices raised about 0.7 percent with average of 182.5 points, said the FAO.
This figure is higher 11.3 percent than January 2019.
Vegetable oil hitting a three year high with a jump of 7 percent.
Sugar prices reached the highest level since December 2017 and on increase for the fourth consecutive month to 5.5 percent.
According to the FAO, “The latest increase was propelled by expectations of a 17% drop in India’s sugar output, a 66% production fall in Brazil’s largest producing region (the Centre-South) and a 25% contraction in Mexico’s harvest”.
Cereal jumped 2.9 percent in a month; it is the highest price since May 2018 while international prices for cereal are increasing.
Slowest rise in price of dairy; reported by the FAO, which is up by 0.9 percent.
There is a break for meat prices from continued increase of eleven months i.e. 0.4 percent down.
The FAO food is a trade weighted index which keeps record of international market prices for major food products.–Worldwide News

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