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World food prices jump again in March - U.N.'s FAO
April 3, 2014 / 8:21 AM / in 4 years

World food prices jump again in March - U.N.'s FAO

ROME, April 3 (Reuters) - Global food prices rose to the highest level in almost a year in March, led by unfavourable weather conditions affecting crops and geopolitical tensions in the Black Sea region, the United Nations food agency said on Thursday.

The Food and Agriculture Organisation’s (FAO) price index, which measures monthly price changes for a basket of cereals, oilseeds, dairy, meat and sugar, averaged 212.8 points in March, up 4.8 points or 2.3 percent from February. The reading was the highest since May 2013.

FAO’s cereal price index saw the second month of significant increases, rising 5.2 percent to its highest value since August 2013 over unfavourable weather conditions in the south-central United States and Brazil, and uncertainty over grain shipments from Ukraine. (Reporting by Naomi O‘Leary; editing by James Mackenzie)

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