Foodstuff

Global food prices reach 18-month high, says FAO

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Global food prices rose in October to their highest level in 18 months, with a sharp increase in the cost of vegetable oil, the Food and Agriculture Organization said on Friday.

The FAO Food Price Index, which tracks monthly changes in international prices of a basket of food commodities, reached 127.4 points last month, a two-percent increase from September.

It was the highest since April 2023 but still 20.5 per cent lower than the peak reached in March 2022 following Russiaโ€™s invasion of agricultural powerhouse Ukraine.

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