FAO Food Price Index Sees Third Consecutive Monthly Rise

The FAO Food Price Index rose for the third consecutive month in April, reaching an average of 130.7 points. This represents a 1.6% increase from March and a 2.0% rise compared to last year.

The index was driven by higher prices across various food commodities, including vegetable oils, which saw a 5.9% surge in April due to increased demand for biofuels and higher crude oil prices.

Additionally, cereal prices rose by 0.8%, with world wheat prices increasing by 0.8% due to drought concerns in the US and Australia. Global maize prices also climbed by 0.7%, underpinned by seasonally tighter supplies and weather-related issues in Brazil.