Global Food Prices Edge Up Amid Cereal and Oil Price Hikes
The FAO Food Price Index has seen its first increase in July, rising 0.6% from June to an average of 131.1 points.
This is a reversal of the May decline and marks a 1.0% higher level than its year-earlier level.
The FAO Cereal Price Index saw a notable increase of 3.4% from June, driven by concerns over disruptions to Black Sea export flows and heatwaves affecting crop yields in key producing countries.