You are here

World food prices edge up in March - FAO

ROME, April 7 (Reuters) - World food prices edged up in March, as sharp rises in sugar and vegetable oil prices more than offset a plunge in dairy prices, 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 151.0 points in March against a downwardly revised 149.5 points the month before.

The index remains near a seven-year low after four consecutive annual declines.

FAO gave its first forecast for world cereals output in 2016-17 at 2.521 billion tonnes, which would be 4 million tonnes lower than last year's level but still the third-highest performance on record.

Food prices on international markets in March were almost 12 percent lower than a year ago, FAO said. (Reporting by Isla Binnie, editing by Crispian Balmer)

© Copyright Thomson Reuters 2016. Click For Restrictions - http://about.reuters.com/fulllegal.asp

Read more about

Tip of the Day

Tech Tip: Make the Most of Technology When Margins Are Slim

It can be difficult to justify the cost of technology when commodity prices are low. However, experts say it's actually the best time... read more

Talk in Marketing

Most Recent Poll

Do you use a drone on your farm?