🚨📈 GLOBAL FOOD #PRICES HIT 2-YEAR HIGH ON SURGING MEAT & OIL COSTS: FAO

World food prices soared to their highest since Feb 2023, FAO said, driven by record-high meat prices and a 3-year peak in edible oils.

🔹July’s FAO index rose 1.6% to 130.1 points, with China and the U.S. pushing beef demand.

🔹Vegetable oils jumped 7.1% amid tight supply. Meanwhile, prices for cereals, dairy, sugar, and rice eased due to better harvests and weak demand.