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The FAO Food Price Index rose in April.
The Food and Agriculture Organization of the United Nations (FAO) announced on Friday that its benchmark index of global food commodity prices rose in April, driven by higher prices for major cereals, meat, and dairy products.
The FAO Food Price Index, which tracks monthly changes in international prices for a basket of globally traded food commodities, averaged 128.3 points in April, up 1.0% from March and 7.6% higher than the same month last year.
The FAO Vegetable Oil Price Index fell by 2.3%, but remained 20.7% higher than a year earlier.
Palm oil prices declined significantly due to increased seasonal production in Southeast Asian countries, while soybean and rapeseed, or canola, oil prices rose on strong import demand. Sunflower oil prices remained largely stable.