And rose FAO index Food Prices, which tracks the prices of the most traded food commodities in the world, rose 2 percent to 127.4 points last month from a revised 124.9 points in September.
The data showed that the index thus increased by 5.5 percent over last year and reached its highest level since April 2023, although it was 20.5 percent lower than the record level it recorded in March 2022 after the outbreak. The Russian-Ukrainian war.
The FAO said that the prices of all categories rose except for meat, as the prices of vegetable oils jumped by more than seven percent from the previous month, supported by concerns about palm oil production.
The Food and Agriculture Organization said that continuing concerns about Brazil’s production outlook during 2024 and 2025 supported a more moderate increase in sugar prices in October, when they rose 2.6 percent.
Grain prices increased 0.8 percent as of September.
The FAO added that wheat prices rose in light of concerns about agricultural conditions in the Northern Hemisphere and after the implementation of an unofficial minimum price for Russian exports, and corn prices also increased.
The organization stated that the prices of dairy products rose by about two percent, supported by the increased demand for cheese and butter in light of the scarcity of supply.
Meat prices generally fell 0.3 percent. Poultry prices fell, unlike beef prices, which rose due to increased global demand.
In a separate report on grains, the FAO lowered its forecast for global production during 2024 to 2.848 billion tons from 2.853 billion tons expected a month ago.
The revision led to expectations that production would decrease by 0.4 percent from the previous year, but it would remain at its second highest level ever.
