Tuesday, 7 December, 2021

Global food prices hit fresh 10-year high, UN says

  • Sun Online Desk
  • 5th November, 2021 01:49:11 PM
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Global food prices hit fresh 10-year high, UN says

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Global food prices have hit the highest level in over a decade after rising by more than 30% in the last year, the United Nations Food and Agriculture Organization (FAO) says.

The agency's figures highlighted the soaring cost of cereals and vegetable oils around the world, reports BBC.

Vegetable oil prices hit a record high after rising by almost 10% in October.

Disruptions to supplies, high commodity prices, factory closures and political tensions are helping to push up prices.

The FAO said its measure of cereal prices was up by more than 22% compared to a year earlier.

The price of wheat was one of the major contributors to this rise, up almost 40% in the last 12 months after major exporters - such as Canada, Russia and the US - had poor harvests.