World food prices rise 0.7 percent in October: FAO

World food prices rose slightly in October as increases in sugar, dairy and cereal prices outweighed declines in oils and meat, the United Nations food agency said on Thursday.

>>Reuters
Published : 10 Nov 2016, 11:54 AM
Updated : 10 Nov 2016, 11:55 AM

The Food and Agriculture Organization's (FAO) food price index, which measures monthly changes for a basket of cereals, oilseeds, dairy products, meat and sugar, averaged 172.6 points in October, 0.7 percent above the month before.

The index was 9.1 percent above its level in October last year.

FAO marginally raised its forecast for world cereal production in the 2016-17 season to 2.571 billion tons, 1.5 percent higher than 2015's output.