Global food prices rose in January for the eighth consecutive month, led by cereals, vegetable oils and sugar, according to the Food and Agriculture Organization of the United Nations (FAO).
The FAO Food Price Index was down for a third consecutive month in June, a decline mostly influenced by lower wheat, maize and palm oil prices that reflected ample supplies and improved global production prospects for these commodities.
A second global food price shock is gathering steam as bad weather decimates crops in the farming giants US, Brazil, Argentina, India, Russia, the EU and Australia that feed the world, according to market analysts.