MANILA, Philippines — Global prices of food commodities rose for the tenth consecutive month in March, with vegetable oils and dairy products as leading factors, according to the United Nations (UN) and the Food and Agriculture Organization (FAO).
According to the agency’s update of its Food Price Index released on April 8, the international prices of commonly-traded food commodities averaged 118.5 points.
The index is trade-weighted and tracks international market prices for the cereals, vegetable oils, dairy, meat, and sugar commodity groups.
The FAO said the steep increase was 2.1 percent higher than in February. The organization added that the recent value is at its “highe…
Keep on reading: Vegetable oil, dairy products drive up March global food prices — FAO