World food prices near two-year high in January
The FAO’s food price index measures monthly changes in prices for a basket of cereals, dairy products, oilseeds, meat and sugar. In January the basket average reached 173.8 points, up from 170.2 in December.
The increase pushed food prices on international markets to their highest level since February 2015 and a whopping 16.4% higher than the figure for January 2016.
The FAO is predicting a record harvest of 2.592bn tonnes of global cereals for 2016/2017.