{"id":255513,"date":"2016-10-06T14:35:28","date_gmt":"2016-10-06T14:35:28","guid":{"rendered":"http:\/\/citifmonline.com\/?p=255513"},"modified":"2016-10-06T14:35:28","modified_gmt":"2016-10-06T14:35:28","slug":"world-food-prices-surge-in-september","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/?p=255513","title":{"rendered":"World food prices surge in September"},"content":{"rendered":"<p class=\"story-body__introduction\">World food prices were up in September, driven largely by the rising cost of sugar, the UN&#8217;s food agency says.<\/p>\n<p>The Food and Agriculture Organisation&#8217;s (FAO)<a class=\"story-body__link-external\" href=\"http:\/\/www.fao.org\/worldfoodsituation\/foodpricesindex\/en\/\"> food price index found prices had increased<\/a> by 10% year on year and 2.9% on August.<\/p>\n<p>However, it stressed prices remained &#8220;relatively low&#8221; and the outlook for the global food market was &#8220;stable&#8221;.<\/p>\n<p>&#8220;A lot of the September increase has to do with sugar,&#8221; said FAO senior economist Abdolreza Abbassian.<\/p>\n<p>The FAO&#8217;s index measures the monthly changes in price of a basket of commodities, including meat, dairy products, cereals, vegetable oils and sugar.<\/p>\n<p>It averaged 170.9 points in September, up 2.9% on August and representing the highest value since March 2015.<\/p>\n<p>Sugar surged 6.7% between August and September, it said, largely because of unfavourable weather conditions in Brazil, the world&#8217;s largest producer and exporter.<\/p>\n<p>Meat, dairy and vegetable oil prices also increased, but cereal prices declined slightly.<\/p>\n<p class=\"story-body__crosshead\"><strong>Bad for consumers<\/strong><\/p>\n<p>Mr Abbassian told the BBC that he expected prices to continue rising in the coming months, &#8220;albeit slowly&#8221;.<\/p>\n<p>&#8220;Price rises are always good for farmers but not so good for consumers,&#8221; he added.<\/p>\n<p>The FAO said that the overall price rises should be seen in the context of record highs reached in 2011 and 2012.<\/p>\n<p>It <a class=\"story-body__link-external\" href=\"http:\/\/www.fao.org\/news\/story\/en\/item\/445300\/icode\/\">added that<\/a> global food markets were likely to remain &#8220;generally well balanced&#8221; in the year ahead, as prices for most internationally traded agricultural commodities were &#8220;relatively low and stable&#8221;.<\/p>\n<p>&#8220;The benign outlook&#8230; is poised to lower the world food import bill to a six-year low,&#8221; it said.<\/p>\n<p>&nbsp;<\/p>\n<p>&#8211;<\/p>\n<p>Source: BBC<\/p>\n","protected":false},"excerpt":{"rendered":"<p>World food prices were up in September, driven largely by the rising cost of sugar, the UN&#8217;s food agency says. The Food and Agriculture Organisation&#8217;s (FAO) food price index found prices had increased by 10% year on year and 2.9% on August. However, it stressed prices remained &#8220;relatively low&#8221; and the outlook for the global [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":[],"footnotes":""},"categories":[107],"tags":[12401,6579,12402,12403],"class_list":["post-255513","post","type-post","status-publish","format-standard","hentry","category-international","tag-cereals","tag-fao","tag-food-prices","tag-world-food-prices"],"_links":{"self":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/255513","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=255513"}],"version-history":[{"count":0,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/255513\/revisions"}],"wp:attachment":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=255513"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=255513"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=255513"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}