Global food prices jumped for the second month in a row in September, hitting a 10-year peak, driven by higher prices for cereals and vegetable oils, according to the Food and Agriculture Organization of the United Nations (FAO).
The Rome-based organization also slightly raised its forecast for global cereal production in 2021 to a record 2.8 billion tonnes from 2.788 billion tonnes estimated last month. But it said those record expectations remain below expected consumption.
The FAO Food Price Index, which monitors world prices of the most traded food commodities, averaged 130 points last month, the highest reading since September 2011, compared to the revised reading for August at 128.5 points.
The previous August reading was 127.4 points.
On an annual basis, prices rose 32.8 percent in September.
Agricultural commodity prices rose sharply last year, driven by poor harvests and strong demand from China.