UN: Food Prices On The Rise

By: Associated Press
By: Associated Press

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Thursday, March 8, 2012

A U.N. agency says food prices have risen for the second time in two months, blaming bad weather in major exporting countries among other factors that have reversed downward price trends.

On the positive side, the Food and Agriculture Organization is forecasting near record wheat production this year, expected to reach 690 million tons or just below the record 2011 harvest.

The Rome-based agency said Thursday its price index rose 1 percent from January to February. The index had climbed nearly 2 percent in January, its first increase in six months.

The increase was mostly caused by higher prices of sugar, oils, and cereals.

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