ROME: The United Nations’ world food price index jumped in September, data released on Friday showed, posting its biggest gain in 18 months on the back of surging sugar prices.
The price index, compiled by the UN Food and Agriculture Organization to track the most globally traded food commodities, rose to 124.4 points in last month from 120.7 in August, the highest level since July 2023 and up 2.1% on the year.
The sugar index soared 10.4% month-on-month, driven by worsening crop prospects in Brazil and concerns that India’s decision to lift restrictions on sugarcane use for ethanol production may affect the country’s export availabilities, FAO said.
The cereal price index increased 3.0%, led by higher wheat and maize export prices, while rice prices declined 0.7%. Vegetable oil prices gained 4.6% on the month, with higher quotations registered across the board for palm, soy, sunflower and rapeseed oils.
Source: Brecorder
