FAO Food Price Index Edges Up Amid Weather, Energy Concerns

The FAO Food Price Index rose by 0.6% in July, driven by higher prices for wheat, maize, vegetable oils, and sugar.

The index averaged 131.1 points during the month, a one percent increase compared to the same period last year.

Global wheat prices surged by 5.8% amid concerns over continued disruptions to exports from the Black Sea region and fears that prolonged heatwaves could affect harvests in some of the world's leading producers.

The FAO Cereal Price Index increased by 3.4% from June, standing 6.9% above its level a year earlier.