Food prices hit record high in February, says UN agency

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World food prices hit a record in February, jumping 24.1% from a year earlier, led by a rise in vegetable oils and dairy products, the UN food agency said on Friday.

The Food and Agriculture Organization of the United Nations (FAO) food price index, which tracks the most traded food commodities globally, averaged 140.7 points last month, down from a revised 135.4 points. down in January. This number was previously given as 135.7.

Higher food prices have contributed to a broader rise in inflation as economies recover from the coronavirus crisis and the FAO has warned that higher costs are putting poorer populations in import-dependent countries at risk.

The Rome-based FAO also released its first projections for grain production in 2022, seeing the global wheat crop rise to 790 million tonnes from 775.4 million in 2021.

Source: CNN Brasil

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