FAO Food Price Index rises due to energy costs
pre-market1 source ↓written by the desknot a recommendation
- in March
- 128.5 points
- from February
- 2.4%
- also rose
- 1.5%
- increase in wheat
- 4.3%
World food commodity prices increased for the second consecutive month, with the FAO Food Price Index averaging 128.5 points in March, up 2.4% from February. The rise is attributed to escalating energy prices amid conflict in the Near East, impacting fertilizer supplies and raising uncertainty in markets. The FAO Cereal Price Index also rose 1.5%, driven by a 4.3% increase in wheat prices due to drought concerns in the U.S. and reduced plantings in Australia.
Not investment advice. For informational purposes only.