Rising food prices in the world market

Once again the FAO food price index grew in February – for the seventh month in a row – and the increase was mainly driven by rising wheat and corn prices. The index closed at 175.5 points, which is the highest value in the last 2 years. Cereal crops cost 2.5 percent more, but vegetable oil prices dropped 4.1 percent. As for the FAO meat price index, it was up 1.1 percent in February.