FAO: World food price index rises in Feb for ninth month

Indonesians repack sugar into smaller packaging before selling it to customers in Tangerang, Banten on April 3, 2020. (FAJRIN RAHARJO / AFP)

ROME – World food prices rose for a ninth consecutive month in February, hitting their highest level since July 2014, led by jumps in sugar and vegetable oils, the United Nations food agency said on Thursday.

The Food and Agriculture Organization said that worldwide cereal harvests remained on course to hit an annual record in 2020, adding that early indications pointed to a further increase in production this year

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The Food and Agriculture Organization’s food price index, which measures monthly changes for a basket of cereals, oilseeds, dairy products, meat and sugar, averaged 116.0 points last month versus a slightly revised 113.2 in January.

The January figure was previously given as 113.3.

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The Rome-based FAO also said in a statement that worldwide cereal harvests remained on course to hit an annual record in 2020, adding that early indications pointed to a further increase in production this year.