FAO: world food prices continued to increase in January

World food prices have risen in January for the fourth consecutive month, this time mainly due to higher prices of vegetable oils, sugar and cereals.

The January Food Price Index of the United Nations Food and Agriculture Organization (FAO) rose by 0.7 percent (1.3 points) to 182.5 points, compared to December.

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)