Global food prices rose in March after seven straight months of declines as hikes in the prices of vegetable oil, dairy and meat offset decreases in the indices for sugar and grains, according to an index of food-commodity prices created by the United Nations’ Food and Agriculture Organization.
- The index rose 1.1% in March from its revised levels in February
- Vegetable oil prices rose 8% from a month ago, reaching a one-year high; grain prices fell 2.6% m/m
- Sugar prices were 5.4% lower m/m, driven mostly by an upward revision of India’s output and the improved pace of Thailand’s harvest