According to data released by the Food and Agriculture Organisation(FAO) arm of the United Nations, global food prices have risen for the third consecutive month in August, influenced by generally firmer demand and a weaker U.S dollar.
According to the published report of the Food Price Index, which tracks international prices of the most commonly traded food commodities,
average prices were 96.1 points in August, up 2.0 per cent from the previous month and reaching its highest level since February.
“Sorghum prices rose 8.6 per cent and stood at 33.4 per cent above their year ago level, mostly on the back of strong import demand by China.”
“Maize prices rose 2.2 per cent amid concerns that recent crop damages in lower would impact supply,” It said
The report also said that the FAO Cereal Price Index rose by 1.9 per cent from July, averaging 7.0 per cent above its value in August 2019 with coarse grains leading the rise.