Lang
Data released on Friday showed that the United Nations' global food price index rose in November to its highest level since April 2023, driven by higher vegetable oil prices.
The price index compiled by the UN Food and Agriculture Organisation (FAO), which tracks the world's most widely traded primary food commodities, rose to 127.5 points in November from a revised 126.9 points in October 2024, marking its highest level in 19 months and a year-on-year increase of 5.7 percent.
Vegetable Oil Prices Climb
The vegetable oil price index rose 7.5 percent above the levels recorded a month earlier, and 32 percent above levels seen a year ago, amid concerns that palm oil production would fall short of expectations due to heavy rainfall in Southeast Asia.
Soybean oil prices rose alongside stronger global demand for imports, while rapeseed oil and sunflower oil prices also increased.