Global food prices rise sharply in July: UN

Global food prices rose six percent in July after dropping for three months, largely because of a hike in the price of grains and sugar, the UN Food and Agricultural Organization said Thursday.The FAO’s Food Price Index, a monthly measure of changes in a basket of food commodities, was 12 points higher at 213 points but remains far off the record 238 points reached in February 2011, a statement said.

The FAO’s grain price index was an average 260 points, up 38 points on June. The index is 14 points short of its all-time record of 274 points, reached in April 2008, the FAO said.

Drought in the United States has hit the corn crop hard with prices rising 23 percent in July.

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Source: AFP

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