FAO announced high global food prices


World Food prices rose in March from a month earlier, boosted by higher prices for cereals and dairy products, the Food and Agriculture Organization of the United Nations (FAO) said on Thursday.
The FAO Food Price Index, which measures monthly changes in a basket of cereals, vegetable oils, dairy products, meat and sugar, recorded 172.8 points last month, up 1.1 percent from February.
Food prices in global markets rose 0.7 percent in March on an annual basis, FAO said in a statement.
High prices of maize, wheat and most dairy products have overshadowed the decline in sugar prices and most vegetable oils, FAO said.
Global cereal production stood at 2.646 billion tonnes in 2017, up 33 million tonnes from 2016, but predicted maize and wheat production would decline in 2018, according to early forecasts.
FAO has forecast wheat production to reach 750 million tonnes in 2018, about 1 percent less than the near-record level in 2017.

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