World food prices are rising at their fastest pace in a decade, led by vegetables oils and cereals.
The overall index tabulated by the United Nation’s Food and Agriculture Organization, was 39.6 per cent higher than a year ago and 4.8 per cent higher than in April.
Cereal prices were up by 35.7 per cent from a year ago and by 4.8 per cent from April, driven mainly by corn.
Vegetable oils were up by 7.8 per cent from April and have now consistently moved higher for 12 months.
The dairy index moved up by 1.5 per cent from April, but is only 1.7 per cent higher than a year ago. Meats were up by 10 per cent from a year ago and by 2.2 per cent from April. They have consistently risen for 10 months.
