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The Financial Express

World food prices rise 0.8pc in September: FAO

| Updated: October 23, 2017 16:35:56


A man buys lemons at a market in Ahmedabad.  - Reuters photo A man buys lemons at a market in Ahmedabad. - Reuters photo

World food prices rose slightly in September from the month before, buoyed by higher valuations in the vegetable oil and dairy sectors, the United Nations food agency said on Thursday, reports Reuters.

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 178.4 points in September, up 0.8 per cent from August.

Food prices on international markets were 4.3 per cent higher than their values last September.

FAO raised its forecast for global cereals output in the 2017-18 season to 2.612 billion tonnes, slightly above last year’s record harvest. The agency also raised its forecast for global wheat production to 750.1 million tonnes.

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