Geneva-Sana
The Food and Agriculture Organization of the United Nations (FAO) announced today that global food prices rose for the third consecutive month in October, reaching their highest levels in ten years, driven by increases in the prices of cereals and vegetable oils.
The organization said in a report reported by Reuters today that the average of the FAO Food Price Index, which measures the global prices of the most traded foodstuffs in global markets, reached 133.2 points last month, compared to a revised reading of 129.2 points in September.
The October reading is the highest on the index since July 2011, while the index rose 31.3 percent in October on an annual basis.
The FAO Cereal Price Index rose 3.2 percent in October on a monthly basis, and the organization said vegetable oil prices jumped by 9.6 percent during the same month, setting a record.
