Global food prices increased for the first time in a year in April amid rising international quotations of sugar, meat, and rice, according to a Friday report released by the Food and Agriculture Organization of the United Nations (FAO).
The FAO Food Price Index averaged 127.2 points in April 2023, up 0.6 percent from March.
The average value of the FAO Sugar Price Index in April amounted to 149.4 points, 17.6 percent higher than its March value.
The reason for the rise in prices was a decrease in forecasts and production volumes in India, China, Thailand, and the European Union, as well as delays in the harvesting of sugar cane in Brazil.
Meanwhile, the FAO Meat Price Index rose 1.3 percent to 114.5 points, 6.1 percent lower than in April 2022.
In contrast, international cereal prices fell by 1.7 percent, 19.8 percent below April 2022, wheat by 2.3 percent, corn by 3.2 percent, vegetable oils by 1.3 percent, and dairy products by 1.7 percent.