According to the data released by the Food and Agriculture Organization of the United Nations on the 4th, global food prices climbed for the eighth consecutive month in January this year to a new high in six and a half years due to the rise in sugar, grain and vegetable oil prices.
According to the data, the FAO Food Price Index was 113.3 points in January, up 4.3% month-on-month, a new high since July 2014.
Among them, due to the soaring corn prices, the cereal price index rose 7.1% month-on-month; the sugar and vegetable oil price index also rose significantly, 8.1% and 5.8% month-on-month, respectively; and the dairy and meat price index rose slightly, up 1.6% and 1% month-on-month, respectively.
The FAO Food Price Index is published monthly to measure the change in international prices of the most active food commodities in global trade. The index consists of a weighted average of five commodity categories: grain, vegetable oil, dairy products, meat and sugar.