FAO Food Price Index remains stable in March

ROME: The FAO Food Price Index, a benchmark of world food commodity price developments, remained largely unchanged in March from its revised February value, as declines in world cereal and sugar quotations offset a notable increase in vegetable oils, the UN Food and Agriculture Organisation of the United Nations (FAO) reported.

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The index, which tracks monthly changes in the international prices of a basket of globally traded food commodities, averaged 118.3 points in March, 0.9% higher than its corresponding value one year ago but remaining 20.7% below its March 2022 peak.