World rice price index jumps in July

The United Nations food agency's rice price index rose 2.8% in July from the previous month, to the highest level in nearly 12 years, as prices in major exporting countries jumped on strong demand and India's move to curb exports, the agency said on Friday. The Food and Agriculture Organization (FAO) Whole Rice Price Index, which tracks prices in major exporting countries, averaged 129.7 points in July, up from 126.2 points the previous month, the agency said. . July's score was nearly 20% higher than last year's 108.4 points and the highest since September 2011, he said. The agency's overall world food price index also rose in July, rebounding from two-year lows. India, which accounts for 40% of world rice exports, last month ordered a halt to its biggest rice export category to calm domestic prices, which have surged to multi-year highs ...