World food prices jump in August, cereal harvest outlook cut: FAO

On a year-on-year basis, prices were up 32.9% in August.

World food prices jumped in August after two consecutive months of decline, pushed up by strong gains for sugar, vegetable oils and some cereals, the United Nations food agency said on Thursday.
 

The Rome-based Food and Agriculture Organization (FAO) also said in a statement that worldwide cereal harvests would come in at nearly 2.788 billion tonnes in 2021, down on its previous estimate of 2.817 billion tonnes but still up on 2020 levels.
 

FAO's food price index, which tracks international prices of the most globally traded food commodities, averaged 127.4 points last month compared with 123.5 in July.
 

The July