FAO shows World Food Price Index up in March

The United Nation’s Food and Agriculture Organization (FAO) reported world food prices reached their highest levels in almost a year in March, jumping 2.3 percent.

“The Index was influenced, as expected, by unfavorable weather conditions in the U.S. and Brazil and geopolitical tensions in the Black Sea region,” said FAO Senior Economist Abdolreza Abbassian.

Based on the costs for a basket of food commodities, prices in the FAO’s index increased in most measured groups. Dairy prices, however, were the only commodity to decrease, as prices fell 2.5 percent.

Now that unfavorable conditions have subsided, the FAO believes the high prices may not continue into April, according to Agri-Pulse.