Posted on 11/04/21
| News Source: Newsmax
World food prices rose for a third straight month in October to reach a fresh 10-year peak, led again by increases in cereals and vegetable oils, the U.N. food agency said on Thursday.
The Food and Agriculture Organization’s (FAO) food price index, which tracks international prices of the most globally traded food commodities, averaged 133.2 points last month compared with a revised 129.2 for September.
The September figure was previously given as 130.0.
The October reading was the highest for the index since July 2011. On a year-on-year basis, the index was up 31.3% in October.
Agricultural commodity prices have risen steeply in the past year, driven by harvest setbacks and strong demand.
The FAO’s cereal price index rose by 3.2% in October from the previous month. That was led by a 5% jump in wheat prices, which climbed for a fifth consecutive month to reach their highest since November 2012, FAO said.