Geneva-Sana
The United Nations Food Price Index revealed that global food prices rose for the 12th consecutive month in May by about 40 percent on an annual basis.
CNN reported that last month also witnessed the largest monthly rise in average food prices in more than ten years, with an increase of 4.8 percent from April to May, according to the index.
In turn, Abdolreza Abbassian, chief economist at the Food and Agriculture Organization of the United Nations, "FAO," pointed out that the ongoing drought in Brazil and the increase in the global use of vegetable oils, sugar and grains have caused prices to rise rapidly around the world, which requires a strong response from the supply side.
The prices jumped last April to the highest rate since 2008 in the countries that belong to the Organization for Economic Cooperation and Development.