Thursday, 7 November 2013

Global food prices rise 1.3 percent in October: FAO [ TechSc1ence ]

ROME (Reuters) – Global food prices rose in October after five months of falls, lifted by a surge in sugar prices and rising cereals and edible oils prices, the United Nations food agency said on Thursday.

The Food and Agriculture Organisation’s (FAO) price index, which measures monthly price changes for a basket of cereals, oilseeds, dairy, meat and sugar, averaged 205.8 points in October, up 1.3 percent from September.

FAO also said it had raised its forecast for world cereal output in 2013/14 to 2.498 billion tonnes (1.1023 ton), about 10 million tonnes higher than its estimate in October.

(Reporting By Catherine Hornby)