In October, world food prices increased 3% from September and peaked since July 2011, the Food and Agriculture Organization of the United Nations (FAO) said. In October, the average value of the FAO Food Price Index, which tracks fluctuations in world food prices on a monthly basis, was 133.2 points. The index has been growing for three months in a row. June saw the first decline in 12 months, which continued in July, but then prices began to rise again. Most of all - by 9.6% - in October, the value of the price index for vegetable oils increased, it reached the highest level for the entire period of observation, FAO notes. Such dynamics was due to the increase in quotations of palm, soybean, sunflower and rapeseed oils. At the same time, palm oil has risen in price for four months in a row amid fears of low production in Malaysia due to a shortage of migrant workers, the organization said. The grain price index rose 3.2% in October. As a result of deterioration in crop types in ...
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