U.N.: World food price index rises in June, first increase in 2020
World food prices rose in June to post their first increase of 2020 and mark a slight rebound after the sharp falls triggered by the coronavirus pandemic, the United Nations food agency said on Thursday, Reuters reports.
The Food and Agriculture Organization (FAO) food price index, which measures monthly changes for a basket of cereals, oilseeds, dairy products, meat, and sugar, averaged 93.2 points last month, up 2.4% in May.
FAO said it had rebased here all its indices, shifting the base period to 2014-16 from a previous 2002-04. "As trade patterns evolve, it is imperative to update the base period to ensure that the weighted basket remains relevant," it said.
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