Global food prices up after 7-month downward trend

According to the FAO’s press release on Friday, the increase in food prices was driven mainly by vegetable oils, dairy products, and meat. (Pexels Photo)

ISTANBUL – The UN Food and Agriculture Organization (FAO) food price index rose 1.3 points, or 1.1 percent, to 118.3 points in March compared to February, increasing for the first time after a seven-month downward trend.

According to the FAO’s press release on Friday, the increase in food prices was driven mainly by vegetable oils, dairy products, and meat.

Meanwhile, the index posted an annual decline of 9.9 points, or 7.7 percent, in March, despite the monthly overall rise.

The cereal price index fell 2.6 percent to 110.8 points from February and 20 percent from March 2023.

The index for vegetable oil rose 8 percent to 130.6 points in March month on month.

In its sixth consecutive monthly increase, the dairy price index increased 2.9 percent to 124.2 points in March from February.

The meat price index was up by 1.7 percent to 113 points, its second consecutive monthly increase.

The sugar price index went down 5.4 percent to 133.1 points from February to March but rose 4.8 percent from March 2023. (Anadolu)