The global increase in food prices that affects consumers around the world does not show any signs of slowing down.
Even though grain prices have taken a breather due to good crop prospects, the United Nations estimate of global food costs rose in March to its highest level since 2014.
Growth last month was driven by a sharp increase in demand for vegetable oils amid stronger demand and limited stocks.
Food prices are in their longest rise in more than a decade amid a pickup in China’s harvest and shrinking supplies of many staples, threatening higher inflation.
This is especially noticeable in some of the poorest import-dependent countries that have limited safety nets and purchasing power and are struggling with the Covid-19 pandemic.
The FAO Food Price Index is up 2.1% compared to February. Vegetable oil prices jumped 8% to their highest level since June 2011. Prices for meat and dairy products rose on demand in Asia.
Grain prices recently climbed to multi-year highs as China imports huge volumes to feed its herds of pigs that are recovering from the deadly virus.