the United Nations Food and Agriculture Organization (FAOFAO) announced the September results of the Global Nutrient Price Index, which tracks the monthly change in the prices of food products between countries.
Accordingly, the FAO Food Price Index rose 3 percent on a monthly basis and 2.1 percent on a yearly basis in September to an average of 124.4 points. Thus, global food prices have seen the fastest increase in the last 18 months, led by sugar prices. In September, the Sugar Price Index recorded the largest monthly increase of 10.4%.
Weakening revenue expectations in Brazil and concerns that India's decision to lift restrictions on the use of sugarcane for ethanol production could affect the country's exports have been instrumental in this increase.
The increase in all works attracted attention
The Grain Price Index rose 3% on a monthly basis in September. This increase was due to the rise in wheat and corn export prices.
Vegetable Oil Price Index up 4.6% month-on-month, Prices of palm, soybean, sunflower and canola oil increased. The increase in international palm oil was due to the lower-than-expected production of the main producing countries in Southeast Asia.
The Milk Price Index increased by 3.8 percent on a monthly basis in September, while the Meat Price Index increased by 0.4 percent.
The increase in meat prices was due to the rise in chicken meat prices due to the strong demand for Brazil's works.
FAO revised its global grain production forecast for this year to 2,853 million tons, while forecasting that wheat production will increase by 0.5 percent this year compared to last year.
