Global food prices rise by 2.3pc March:FAO

Apr 03 2014, 15:51 IST
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SummaryThe Food and Agriculture Organisation (FAO) price index measures monthly price changes for a basket of cereals, oilseeds, dairy products, meat and sugar.

subject to the sharpest price drop was whole milk powder, reflecting reduced buying interest from China, in particular, it added.

Global sugar prices averaged 253.9 points in March, up by 7.9 per cent from February 2014 as prices kept strengthening amid concerns of declining export availabilities from Brazil and Thailand, due to drought and reduced sugarcane output, respectively.

The likelihood of sugar crops being adversely affected by El Nio later this year also contributed to the price surge, it added.

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