ROME (XINHUA) – Global food prices increased in February, driven by rising energy and transport costs, as well as unfavourable weather conditions, the United Nations Food and Agriculture Organization (FAO) reported.
The FAO Food Price Index rose 1.6 per cent compared to January and was 8.2 per cent higher than a year earlier.
Dairy, vegetable oils, and sugar saw the largest price increases in February, while grain and cereal prices – the index’s largest component – rose slightly, and meat prices declined. Dairy prices climbed 4.0 per cent from January, driven by increased global demand.
Vegetable oil price index rose 2.0 per cent in February, pushing the index 29.1 per cent above its year-ago level. Sugar recorded the sharpest monthly increase, rising 6.6 per cent.
Prices for grains and cereals saw modest gains, rising 0.7 per cent. Meat was the only subindex to decline, slipping 0.1 per cent, mainly due to lower poultry prices. Nevertheless, meat prices remained 4.8 per cent higher than a year earlier.
