Insight Iraq

In-Depth News & Views

Iraq News

World food prices rise for first time in 7 months: FAO

Paris &#8211 World-wide food stuff price ranges rose in March, the first maximize since July, pulled better by cooking oil prices inspite of the price of grains continuing to simplicity, the UN&#8217s Food items and Agricultural Corporation stated Friday.

The FAO&#8217s overall Food Value Index climbed 1.1 p.c around the month to stand at 118.3 factors in March 2024. On an once-a-year comparison it was 7.7 p.c decreased.

The sub-index for vegetable oils jumped by 8. percent over the thirty day period to get to a one particular-calendar year superior. The FAO said prices for palm, soy, sunflower and rapeseed oils all climbed bigger.

Rising palm oil selling prices ended up driven by seasonal drops in output in leading making nations that coincided with sturdy desire in Southeast Asia, though desire from the biofuel sector pulled up soy oil selling prices.  

Dairy selling prices rose by 2.9 p.c in March on a regular basis, though meat selling prices climbed 1.7 per cent.

In the meantime, cereals selling prices slid 2.6 percent on a regular foundation, whilst sugar prices fell 5.4 per cent.

Meals rates arrived at a file higher soon after Russia invaded agricultural electricity Ukraine in February 2022 but have dropped because then.

Last month&#8217s uptick comes as inflation has slowed drastically in numerous nations around the world but a current rebound in world wide oil costs has sparked concern it may persist at a amount that could discourage central banking companies from chopping curiosity costs.

The put up Environment food stuff selling prices rise for initially time in 7 months: FAO appeared to start with on Iraqi News.