FAO: World food prices rose in January

The FAO Food Price Index rose notably in January, led by sugar and cereals, even as global markets remain well supplied.

The FAO Food Price Index averaged 173.8 percent in January, its highest value in almost two years, marking a 2.1 percent increase from its revised December value and 16.4 percent above its 2016 January level.

The FAO Sugar Price Index surged 9.9 percent in the month, driven by expectations of protracted supply tightness in Brazil, India and Thailand. (MTI)