The January Food Price Index averaged 113.3 points, or 4.3 percent higher than in December 2020.
The index reached the eighth month of consecutive increases and registered its highest monthly average since July 2014.
The latest increase reflected strong gains in the sugar, cereals and vegetable oils sub-indices, while meat and dairy values were also up but to a lesser extent.
The Food and Agriculture Organization of the United Nations published the data Thursday.
Global cereal grains rose 7.1 percent in January, as row crop prices rise, and vegetable oil prices were up 5.8 percent.
Dairy prices were reported 1.6 percent higher. In January, butter and whole milk powder price quotations increased, underpinned by China’s high purchases ahead of its upcoming New Year holiday festivities.
Meat prices were up one percent from December, but down 7.3 percent from this time last year.
Sugar prices were up 8.1 percent in January, reaching levels not seen since May of 2017.
(Story Courtesy of the NAFB News Service)