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1% from a year earlier, as vegetable oil and dairy products surged, the United Nations ' Food and Agriculture Organization (FAO) said on Friday .
The FAO Food Price Average Index stood at 140.
7 points in February, up from a revised January index of 135.
4 points (an earlier estimate of 135.
7 points)
.
7 points in February, up from a revised January index of 135.
4 points (an earlier estimate of 135.
7 points)
.
Rising food prices have driven inflation across the board as the global economy recovers from the Covid-19 crisis
.
Surging food costs put poor people at risk in food-importing countries
.
.
Surging food costs put poor people at risk in food-importing countries
.
FAO economist Upali Galketi Aratchilage said crop conditions and export supply concerns were only some of the reasons for the rise in global food prices
.
External markets have a greater impact, especially energy, fertilizer and feed markets
.
And these factors tend to eat into food producers' profits, limiting investment and efforts to expand production
.
.
External markets have a greater impact, especially energy, fertilizer and feed markets
.
And these factors tend to eat into food producers' profits, limiting investment and efforts to expand production
.
The price data reported in February was mostly collected before the conflict erupted between Russia and Ukraine
.
Long before the conflict erupted, geopolitical tensions in the Black Sea were already putting upward pressure on agricultural products
.
Analysts warned that if the conflict continues for too long, it could have a severe impact on grain exports
.
.
Long before the conflict erupted, geopolitical tensions in the Black Sea were already putting upward pressure on agricultural products
.
Analysts warned that if the conflict continues for too long, it could have a severe impact on grain exports
.
The FAO said that the vegetable oil price index rose 8.
5% month-on-month in February, reaching a new record high, as palm oil, soybean oil and sunflower oil prices rose
.
Ukraine and Russia account for 80% of global sunflower oil exports
.
5% month-on-month in February, reaching a new record high, as palm oil, soybean oil and sunflower oil prices rose
.
Ukraine and Russia account for 80% of global sunflower oil exports
.
The grain price index in February rose 3% month-on-month, with corn prices up 5.
1% and wheat prices up 2.
1%, mainly due to uncertainty over the outlook for Black Sea grain exports
.
1% and wheat prices up 2.
1%, mainly due to uncertainty over the outlook for Black Sea grain exports
.
The dairy price index rose 6.
4% month-on-month in February, the sixth straight month of gains, as global supplies tightened
.
Meat prices rose 1.
1% month-on-month in February
.
4% month-on-month in February, the sixth straight month of gains, as global supplies tightened
.
Meat prices rose 1.
1% month-on-month in February
.
Sugar was the only sub-category whose prices fell in February, down 1.
9% month-on-month, partly due to brighter production prospects in major exporters India and Thailand
.
9% month-on-month, partly due to brighter production prospects in major exporters India and Thailand
.
The United Nations' Food and Agriculture Organization released its first 2022 cereal production forecast on Friday, predicting global wheat production to rise to 790 million tonnes from 775.
4 million tonnes in 2021, partly due to higher yields and increased plantings in Canada, the United States and Asia
.
However, the FAO cautioned that this production forecast does not take into account the possible impact of the conflict between Russia and Ukraine
.
4 million tonnes in 2021, partly due to higher yields and increased plantings in Canada, the United States and Asia
.
However, the FAO cautioned that this production forecast does not take into account the possible impact of the conflict between Russia and Ukraine
.
The FAO expects Argentina and maize production to be well above average in 2022, with Brazil reaching a record 112 million tons
.
FAO expects global cereal use to increase by 1.
5% year-on-year in 2021/22 to 2.
803 billion tons, and forecasts global cereal ending stocks at 836 million tons
.
.
FAO expects global cereal use to increase by 1.
5% year-on-year in 2021/22 to 2.
803 billion tons, and forecasts global cereal ending stocks at 836 million tons
.
