The FAO Food Price Index rose in February, with surges in sugar, dairy, and vegetable oil prices driving the increase. The price of globally traded food commodities averaged 127.1 points in February, up 1.6% from the previous month and 8.2% higher than its February 2024 benchmark, according to the latest report. After declining for three months, the sugar price index increased by 6.6% from January. The FAO attributes the spike to concerns over limited supplies for the 2024/25 season due to dwindling production in India and extreme weather conditions impacting harvests in Brazil.
