Food price index rises in September

The food price index measured by the United Nations food and Agriculture Organization (FAO) rose 0.8% in September, compared to August. Compared to the same month of 2016, the high was 4.3%, to reach 178.4 points.
The monthly high was caused mainly by the prices of vegetable oils and dairy products, which rose 4.56% respectively and 2.1%. The FAO measures the value of goods traded internationally.
Particularly, the vegetable oils reached the maximum score in seven months, with 171.9 points, mainly due to Palm oil prices, amid the fall of production in Asia. International prices of soybean oil also rose on concerns over the delay in the planting of South America.
The index for dairy products was in 224.2 points, due to supply constraints in Australia, New Zealand and the European Union. On the other hand, the FAO says cereal prices retreated 1.6 percent compared to August, with ample supply of corn from South America and Russian wheat production weighing on prices.
The prices of meat and sugar were practically unchanged.