Dairy Price Jump Fuels Global Food Price Rise
11 October 2016
GLOBAL - Lower prices for staple grains were more than offset by rising sugar and dairy prices in this month's Food Price Index from the UN's Food and Agriculture Organisation (FAO).
The FAO Food Price Index averaged 170.9 points in September, up 2.9 per cent from August and 10 per cent from a year earlier.
The increase was driven by a 13.8 per cent monthly jump in the FAO Dairy Price Index, partly as a result of a sharp jump in butter prices benefiting exporters in the EU, where dairy output is declining.