Global food prices rise for the third consecutive month in August: FAO
Global food prices increased for the third consecutive month in August, led by coarse grains, vegetable oils, and sugar, the Food and Agriculture Organization of the United Nations said.
The UN food agency’s food price index, averaged 96.1 points in August versus 94.3 in July. The index tracks monthly changes for a basket of dairy products, cereals, oilseeds, meat, and sugar.
The Rome-based FAO also lowered its forecast for world cereal production in 2020 by 25 million tonnes from a July projection, due to expectations of a lower maize output in the US.