The United Nations Food & Agriculture Organization’s Food Price Index in March was 215.9, a half-point increase from February but still well below the record 237.9 set in February of 2011. Those record food prices led to the so-called Arab Spring uprisings in the Middle East and Africa. The Index is a measure of monthly prices for cereals, oilseeds, dairy, meat and sugar.
FAO senior economist and grain analyst Abdolreza Abbassian says prices are expected to continue to rise through the first half of this year citing tight corn and soybean stocks and increasing oil prices. High energy prices affect food in a number of ways including the cost of fertilizer, fuel on the farm and the transportation of products for distribution.
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