Agencies
Global food prices posted their biggest gain in 18 months in September on the back of surging sugar prices, the United Nations food agency reported on Friday.
The price index, compiled by the U.N. Food and Agriculture Organization (FAO) to track the most globally traded food commodities, rose to 124.4 points in last month from 120.7 in August, the highest level since July 2023 and up 2.1% on the year.
The sugar index soared 10.4% month-over-month, driven by worsening crop prospects in Brazil and concerns that India’s decision to lift restrictions on sugarcane use for ethanol production may affect the country’s export availabilities, FAO said.
The cereal price index increased 3%, led by higher wheat and maize export prices, while rice prices declined 0.7%.
