FAO food price index jumps 24.1% from last year
World food prices reached an all-time high in February, the Food and Agriculture Organization (FAO) said in a statement Friday.
FAO said its food price index averaged 140.7 points in February, up 3.9% from January a significant increase of 24.1% from a year ago.
The UN agency said the price increase was led by vegetable oils and dairy products.
The vegetable oils price index rose 8.5% from the previous month to a new high, mostly driven by increased quotations for palm, soy and sunflower oils.
The dairy price index averaged 6.4% higher in February from the previous month.
On a monthly basis, the cereal price index increased 3%, while the meat price index rose 1.1%.
The sugar price index, on the other hand, declined 1.9% from January.