FAO: The World Food Price Index Rose For The Ninth Month in a Row

The Food and Agriculture Organization of the United Nations (FAO) said that global food prices rose for the ninth consecutive month in February, reaching their highest levels since July 2014, led by jumps in the prices of sugar and vegetable oils.

The FAO Food Price Index, which measures monthly changes for a basket of grains, vegetable oils, dairy products, meat and sugar, averaged 116.0 points last month, compared to a slightly revised reading of 113.2 in January.

The previous reading for January was 113.3 points.

The Rome-based FAO said in a statement that global cereal crops are still on their way to setting a record annual level in 2020, adding that initial indications are of a new increase in production this year.