World Bulletin / News Desk
Global food prices rose by 8.2 percent in 2017 compared to the previous year, according to the United Nations Food and Agriculture Organization (FAO) on Thursday.
"...the FAO Food Price Index averaged 174.6 points in 2017, up 8.2 percent from 2016 and reaching the highest annual average since 2014," the organization said in a statement.
The FAO Food Price Index is a trade-weighted index that tracks international market prices of five major food commodity groups.
All sub-indexes except the sugar price index were higher in 2017, according to FAO.
The dairy price index saw the sharpest annual increase with 31.5 percent while meat prices rose by 9 percent last year, compared to 2016.
The vegetable oil and cereal prices were also up by 3 percent and 3.2 percent, respectively.
"Sugar prices were 11.2 percent lower, on average in 2017 than in 2016, due largely to a bumper harvest in Brazil, the world's leading producer," FAO said.
In December, global food prices dropped 3.3 percent compared to November 2017 due to a sharp decrease in vegetable oils and dairy products prices.
"The index, a measure of the monthly change in international prices of a basket of food commodities, stood at 169.8 points in December 2017, down 3.3 percent from November," FAO added.
Greece posts highest ratio of government debt to GDP at 180 pct in first quarter
July’s export figure important to catch country's target of $173 billion for 2018, head of exporters' assembly says
COMESA Summit 2018 final communique urges ratification of tripartite free trade agreement
Turkey produced 18.9M tons of crude steel in Jan-June, says country's steel producers association
Property sales to foreigners see yearly increase of 23 pct from January to June, according to official report
US uranium production dropped from 49 percent in 1987 to 5 percent today
Chileshe Kapwepwe from Zambia becomes first woman to head trade bloc
Last month, inflation among EA19 countries rose to 2 percent, up 1.3 percent from same month last year, says Eurostat
BIST 100 climbs 0.10 pct, while Turkish lira gains value against foreign currencies
Nearly 8.5 million new passenger cars were registered in EU in first half of 2018, says manufacturers' association
Economic partnership agreement is biggest ever negotiated by EU and will create an open trade zone
BIST 100 rises 0.08 pct; US dollar/Turkish lira exchange rate stands at 4.8420
The dollar was up versus the yen but down against the euro and pound, with all eyes on US President Donald Trump's summit with Russian counterpart Vladimir Putin in Helsinki.
Tax revenues totals nearly $72.1 billion while interest payments amounts to over $8.2 billion in January-June period
BIST 100 rises over 700 points; USD/TRY exchange rate stays at 4.8360