The rise in food prices in the world by a report in the Food and Agriculture Organization of the United Nations (FAO), in December 2019 for the third month in a row, to reach its highest level in 5 years, due to the high prices of vegetable oils, according to a report issued by the Food and Agriculture Organization of the United Nations ".
The FAO global food price index increased by 2.5% during the month of December 2019, compared to the previous month to 18.7 points, which is the highest level since December 2014, noting that this indicator tracks the monthly changes in the international prices of the movement of food commodities trade.
And the price index during the last year as whole as 1.8% to 171.5 points, to remain 25% lower than its highest level in 2011.
The vegetable oil sub-index increased 9.4% during the last month compared to the previous month, to continue its rise for the sixth month in a row.
This rise came due to the high prices of palm oil, due to the strong demand for it, especially from companies converting it to biofuels, and concerns about the decline in supplies.
The sugar price index increased by 4.8% due to the increase in the price of crude oil, which led to an increase in the use of sugar cane in Brazil in the production of ethanol as an alternative biofuel, thus reducing the quantities of cane available for use in sugar production.