(MENAFN) According to the UN's Food and Agriculture Organization (FAO) statement on Friday, food costs in the globe have surged by 17.9 points or 12.6 percent on a monthly basis last month creating a “giant leap” to a new high record.
The FAO also mentioned, "the latest increase reflects new all-time highs for vegetable oils, cereals and meat sub-indices, while those of sugar and dairy products also rose significantly."
The FAO food price index (FFPI) stood at159.3 points the previous month, also soaring by 40.1 points from March of last year.
FFPI is a trade-weighted index that traces global market costs of five main food commodity groups.
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