Global food prices were 13.4 per cent higher this March than a year ago, but down by 2.8 per cent from February, reports the United Nations’ Food and Agriculture Organization.
Prices for everything but meat declined in March from February.
The FAO Cereal Price Index averaged 147.8 points in March, down by 2.7 points (1.8 percent) from the previous month and essentially at a par with its value in March 2016. The FAO Vegetable Oil
Price Index averaged 167.6 points in March, down for the second consecutive month. While the index dropped by 11 points (or 6.2 percent) month-on-month, it continued to be higher than the previous two years.
The FAO Dairy Price Index averaged 189.8 in March, down by 4.4 points (2.3 percent) from the previous month, but still 60 points (46 percent) higher than last year.
The Meat Price Index averaged 163.2 points in March, up by 1.2 points (0.7 percent) from February and 17 points (12 percent) higher than last year.