The FAO Food Price Index, which measures the monthly change in prices of a basket of food commodities, averaged 216 points in March, almost flat from 215 in February, said the Food and Agricultural Organisation.
"Among the various commodity groups, only oils prices showed strength, compensating for falling dairy quotations, while the indices of cereals, sugar and meat prices were largely unchanged from last month's level," it said.
Food prices spiked in 2007-2008 and again last year when they reached record levels, with the FAO index peaking at 232 last March. Rising food prices, which can stoke social unrest, have been blamed on a mix of factors, from high energy and fertiliser prices to climatic factors and loss of farmland, to changing diets and the growth of the
biofuel sector.
The FAO said that in March this year its Cereal Price Index averaged 227 points, up one point from February. Maize prices registered some gain, wheat changed little as supplies remained ample, and rice recovered somewhat from several months of declines, underpinned by large purchases by China and Nigeria.
All dairy products were weak as supplies rose in Oceania, Europe and North America, said the Rome-based agency in its monthly report.
Source: AFP
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