Shafaqna English- Global food price surged to its highest level in 18 months in October 2024 according to United Nations data.
A price index compiled by the UN’s Food and Agriculture Organization (FAO) on Friday (08 Nov 2024) to track the most globally traded food commodities increased to 127.4 points last month, up 2 percent from a revised 124.9 points in September.
That put the index up 5.5 percent from a year ago and marked its highest since April 2023, though it was 20.5 percent below a record from March 2022 reached after Russia’s attacks on Ukraine, the data showed.
Prices of all categories rose apart from meat, with vegetable oils jumping more than 7 percent from the previous month, supported by concerns over palm oil production, the FAO said.
The overall index extended gains from September when it had reached its highest since July 2023 on the back of surging sugar prices.