World food prices at 2-year high on rising meat and edible oils, FAO says

PARIS: World food commodity prices rose in July to their highest in over two years, as a jump for vegetable oils and record levels for meat outweighed falling cereal, dairy and sugar prices, the UN’s Food and Agriculture Organization said. The FAO Food Price Index, which serves as a global benchmark for food commodity prices, averaged 130.1 points in July, a 1.6 percent increase from June, FAO said. That was the highest reading since February 2023, though the index was 18.8 percent below its peak of March 2022, which followed Russia’s full-scale invasion of Ukraine.

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