Rome, August 07 (QNA) – The United Nations Food and Agriculture Organization (FAO) announced on Friday that its Food Price Index averaged 131.1 points in July, up 0.6 percent from June.
In a statement, the organization said the increase was driven by higher prices for cereals, sugar, and vegetable oils, despite declines in meat and dairy prices.
The FAO noted that cereal prices rose 3.4 percent, led by higher wheat prices amid concerns over disruptions to export flows in the Black Sea region and damage to export infrastructure, as well as the impact of heatwaves on crops in several major producing countries. Corn prices increased 3.6 percent, while the Vegetable Oil Price Index rose 2 percent to its highest level since June 2022, supported by higher prices for palm and soybean oils.
The organization added that the Meat Price Index fell 2.8 percent, while the Dairy Price Index declined 0.7 percent. Meanwhile, the Sugar Price Index increased 5.6 percent, reflecting concerns over the impact of hot and dry weather on crop production. (QNA)