The global food price index rose for the third month in a row in May and at the same time reached the highest value in the last six months.
Compared to the previous month, the FAO food price index rose in May by 0.9 percent to 120.4.
Grain prices rose 6.3 percent, their second straight rise to a four-month high, as global export prices for all major grains rose, with wheat the biggest gainer. Also, the prices of dairy products rose by 1.8 percent in May and reached the highest level in thirteen months.
On the other hand, vegetable oil fell 2.4 percent as lower palm oil quotes more than offset higher soybean, canola and sunflower oil prices. Meat prices fell 0.2 percent as international poultry and cattle prices fell, while pork and lamb prices rose.
Also, the price of sugar fell 7.5 percent, its third straight monthly decline and the lowest level since January 2023, largely due to a good start to the new crop season in Brazil, boosted by favorable weather conditions that contributed to a better outlook for global supply.
