FAO: food prices rose to a five-year high in December

For the third consecutive month in December, world food prices have risen to a five-year high, mainly due to higher prices of vegetable oils.

The December price index of the United Nations Food and Agriculture Organization (FAO) rose 2.5 percent to 181.7 points from November. It is the highest level since December 2014.

The FAO Food Price Index is a trade-weighted indicator that takes into account the international market price of the five most important food commodities – vegetable oils, grains, meat, dairy products and sugar. (MTI)