The Food and Agricultural Organization’s Food Price Index rose one per cent to 234 points in June 2011. This is 39 per cent higher than in June 2010, but remains four per cent below its all-time high of 238 points in February this year.
International sugar prices were behind much of the increase. The sugar price index rose 14 per cent from May to June, but still remains 15 per cent below its January record.
In June, dairy prices remained virtually unchanged from the previous month. Cereal prices fell slightly, as weather conditions improved in Europe and the Russian Federation’s ban on wheat exports was lifted.
FDI Global Food and Water Crises Research Programme