The Food Price Index published by the Food and Agriculture Organization of the United Nations (FAO) saw its highest level since June 2011 with 134.4 points. The index, which monitors the monthly changes in the international prices of widely traded food products in global markets, increased by 1.2 percent on a monthly basis and increased by 27.3 percent on an annual basis. The FAO Dairy Price Index increased by 3.4 percent in November compared to the previous month, causing the overall rise of the index. Anticipating the contraction in the market, strong demand from buyers to secure spot supplies for butter and milk powder triggered the global import trend for these two products. FAO Cereal Price Index increased by 3.1 percent in November compared to the previous month and increased by 23.2 percent compared to the previous year. While the increase in corn prices remained limited, wheat prices saw the highest level since May 2011. Rice prices, on the other hand, remained stable. Low ...