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FAO records fastest increase in world food prices in 1.5 years

According to the organization's statement, the rise in basic food prices was caused by an increase in international sugar quotations - by 10.4%

ROME, October 4. /TASS/. World food prices in September grew at the fastest pace in the past 18 months - the price index of the Food and Agriculture Organization of the United Nations (FAO), which tracks monthly changes in international prices for a number of food products, stood at 124.4 points in September, which is 3% higher than in August and 2.1% higher than the corresponding value a year earlier.

Earlier, a slight increase in prices was observed in the period from March to May, but the index remained below last year's figures.

According to the organization's statement, the rise in basic food prices was caused by an increase in international sugar quotations - by 10.4%. Meanwhile, the FAO's cereal price index rose by 3%, which was driven by an increase in export prices for wheat and maize. FAO explains that international wheat prices rose mainly due to concerns about the negative impact on the harvest of excessively wet weather conditions in Canada and the European Union, although this was partly offset by competitive prices for supplies from the Black Sea region.

The price index also rose for vegetable oil (by 4.6%), dairy products (3.8%), and meat (0.4%).

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