File photo courtesy of © Can Stock Photo Inc. / monticello
File photo courtesy of © Can Stock Photo Inc. / monticello
Sarnia

FAO Says World Food Prices Jumped In October

The U-N's Food and Agriculture Organisation says global food prices posted their sharpest increase in more than three years in October.

The FAO's Food Price Index was up 3 point 9 per cent from September.

However, the FAO points out food on international markets in October was still 16 per cent cheaper than it was a year ago.

Sugar prices posted the biggest increase at just over 17 per cent.

The FAO blames that on weather, including too much rain in Brazil, the world's leading sugar producer.

The dairy price index was up 9 point 4 per cent and the vegetable oil price index was up 6 point 2 per cent.

The cereal price index posted a modest 1 point 7 per cent gain while the meat price index was essentially unchanged from September.

The FAO says for meat, that's an extension of overall price stability that has been evident since March of this year.

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