UN: World food prices hit a 10-year-high; wheat harvests a factor
The Hindu
The international prices of its basket of food commodities rose by 3% in October: FOA
World food prices are the highest since July 2011, reflecting in part reduced wheat harvests by major exporters and higher palm oil prices, the United Nations’ food agency said on Thursday.
The Rome-based Food and Agriculture Organization (FAO) said international prices of its basket of food commodities rose by 3% in October, for a third straight month of increases.
Reduced harvests by big exporters like Canada, Russia and the United States helped drive up wheat prices by 5%, while the Vegetable Oil Price Index soared by 9.6% in October, hitting an all-time high. Migrant worker shortages in Malaysia were a factor in that increase, the FAO said.
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