UN body: Global food prices rise in February

By Tuba Sahin

ANKARA (AA) - Global food prices in February were higher on a monthly basis, the UN Food and Agriculture Organization (FAO) said on Thursday.

The food price index rose 1.7 percent month-on-month, averaging 167.5 in February, mostly on higher dairy prices, the FAO said in a statement.

However, the index fell 2.3 percent compared to same month last year, the statement said.

The FAO Food Price Index is a trade-weighted index that tracks international market prices of five major food commodity groups.

The dairy price index surged 5.6 percent monthly (10.3 points) in February as all dairy products prices went up, it said.

The FAO said the vegetable oil price index in February soared 1.8 percent from a month earlier, marking its highest level since last October.

The rise stemmed from higher values of palm, soy, and sunflower oils, according to the statement.

Last month the sugar price index climbed 1.2 percent from January.

"The increase largely reflected concerns over production prospects in some of the main producing countries," the FAO said.

The meat price index went up slightly during the same period, by 0.7 percent, but still 4 percent below the corresponding month last year.

The cereal price index averaged almost 169 points in February, up marginally from January.