ROME, ITALY — The United Nation’s Food and Agriculture Organization's (FAO) Food Price Index rose for the second month running in April, climbing 1%, or two points, the FAO said on May 9.
As in March, last month's increase was driven almost exclusively by a sharp rise in dairy prices. Prices of most other food commodities fell. At 215.5 points the April Food Price Index was also 1% higher than in April 2012. It currently stands 9% below its peak recorded in February 2011.
The FAO Cereal Price Index averaged 235 points in April, down 10 points (4.1%) from March, but nearly 11 points (4.9%) over April 2012.
The FAO Oils/Fats Price Index averaged 199 points in April, down 2 points (1.5%) from March. Weakening energy prices and persistent concerns about the global economy continued to weigh on the vegetable oil complex as a whole.
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