World food prices rise 2.2% in May

Reuters Rome | Updated on January 12, 2018 Published on June 08, 2017

World food prices rose 2.2 per cent in May from the month before after three straight months in decline, with higher values for all food goods except sugar, the United Nations food agency said on Thursday.

The Food and Agriculture Organization's (FAO) food price index, which measures monthly changes for a basket of cereals, oilseeds, dairy products, meat and sugar, averaged 172.6 points in May, up 2.2 per cent from April.

The increase pushed food prices on international markets 10 per cent above their levels in the same month last year.

FAO trimmed its forecast for global cereals output in the 2017-18 season, to 2.594 billion tonnes, down 0.5 per cent year-on-year. Global wheat production is expected to decline 2.2 percent after a record harvest last year.

Published on June 08, 2017
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