FAO Index Hits 125.3 in Feb; Rising Cereal & Oil Costs End 5-Month Decline in Global Food Prices

World food prices rose in February after falling for five straight months with higher cereal, meat and most vegetable oil prices outweighing declines in cheese and sugar, the United Nations' Food and Agriculture Organization said on Friday.

The FAO Food Price Index, which tracks monthly changes in a basket of internationally traded food commodities, averaged 125.3 points in February, up from 124.2 points in January.

The index was still 1% below its value a year earlier and nearly 22% under its March 2022 peak, reached after the start of the war in Ukraine. 

Also read: Oil Prices to CAD: What the US Waiver on Russian Crude Means for India