In May, world food prices showed the highest increase in 10 years

This is stated in the report of the Food and Agriculture Organization of the United Nations (FAO). "In May, world food prices rose by the most amount in more than 10 years, despite the fact that world grain production could reach an unprecedented high level," the statement said. One of the factors in the growth of this index, which allows us to monitor monthly fluctuations in world prices for the most popular food products, was a sharp rise in world prices for vegetable oils, sugar and cereals; it reached its highest level since September 2011, which is only 7.6% below its historical maximum in nominal terms. "FAO's dairy price index also rose 1.8% this month from the same period last year. The main driver of growth was the active import demand for whole milk powder, while butter prices fell for the first time in almost a year due to an increase in New Zealand's exports, ”the FAO added. Note that compared to April, the FAO grain price index increased by 6% mainly due to the growth ...