The Food and Agriculture Organisation (FAO) of the United Nations announced that the FAO Food Price Index advanced 4 points or 2% from December to January this year.
Prices for all commodities increased with oils registering the biggest gains, followed by cereals, sugar, dairy prices and meat. The FAO Meat Price Index averaged 179 points, half a percent (1 point) above its December value, the agency said. Prices of various meat types were mixed, with pig meat up 2.8% on expectations of strong imports by China. Poultry prices retreated by 1%.
This is the first increase in the index since July 11. However, at 214 points the index is 7% lower compared to January 2011.
Source: The Food and Agriculture Organisation (FAO) of the United Nations