Food Prices Rise In October For The First Time In Five Months

Rome, Nov. 7 (EFE) .- World food prices rose last October for the first time in five months, driven by sugar and major cereals, the UN Food and Agriculture Organization said Thursday. FAO).

The agency explained in a note that the basic food price index reached an average of 172.7 points, representing increases of 1.7% compared to September and 6% compared to October 2018.

Sugar increased by 5.8% per month due mainly to the lower production expected in India, the largest producer, and in Thailand, the largest exporter, thus reducing world supplies for next year.

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Cereals also experienced a sharp rise in their prices, of 4.2%, given the decline in the prospects for wheat and corn crops in several of the main producing countries and trade dynamics, according to FAO.

Meanwhile, the prices of vegetable oils increased 0.5% in October, reaching their highest level in more than a year, among other reasons for the new regulations on biodiesel in Indonesia, which favors the price of oil Palm, highly demanded.

In addition, meat was sold 0.9% more expensive, due in part to the increased import demand for beef and sheep, especially in China, while pork prices continued to increase and poultry prices declined.

The only index that fell in October at a monthly level was that of dairy prices, specifically 0.7%, due to the cheaper price of cheese, the organization added. EFE

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