UN FAO Food Price Index hits new record
World food prices surged to their highest level in history. Jumping 13 percent in March, as the war in Ukraine impacts global food staples.
The UN Food Index jumped to 159.3 points, well ahead of the February number, which was a record at the time.
Global vegetable oil prices jumped a whopping 23 percent, and cereal prices climbed 17 percent. Both are at the highest level.
The UN also cut its forecast of world wheat production by 6 million tons, factoring in the possibility that 20 percent of Ukraine’s winter crop will not be harvested.