International food commodity prices shot up 4.2% in June, their steepest monthly increase of the past four years.
The U.N. Food & Agriculture Organization’s (FAO) Food Price Index, released July 7, averaged 163.4 points in June and is now 1% below the level reached a year earlier. The June rise, which affected all commodity categories except vegetable oils, was the fifth consecutive monthly increase.
The price movement reflects FAO's update of its cereal supply and deman
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