MOSCOW (Pakistan Point News / Sputnik - 04th June, 2021) The rise in global food prices in May reached the fastest monthly rate since September 2011, the United Nations' Food and Agriculture Organization (FAO) reported on Thursday.
"A surge in the international prices of vegetable oils, sugar and cereals led the increase in the [ FAO food price] index, which tracks monthly changes in the international prices of commonly-traded food commodities, to its highest value since September 2011 and only 7.6 percent below its all-time peak in nominal terms," FAO stated.
The FAO Food price Index averaged 127.1 points in May, which is 4.8% up from April and 39.7% up from May 2020.
