A news release today from the Food and Agriculture Organization of the United Nations (FAO) stated that, “Following two months of stability, the FAO Food Price Index rose slightly in September 2012, up 1.4 percent, or 3 points, from its level in August.
“The Index, based on the prices of a basket of internationally traded food commodities, climbed to 216 points in September from 213 points in August. The rise reflected strengthening dairy and meat prices and more contained increases for cereals. Prices of sugar and oils, on the other hand, fell.
“The FAO Index currently stands 22 points below its peak of 238 points in February 2011, and 9 points below its level of 225 points in September 2011.”
A Bloomberg video from October 4 noted that, “Abdolreza Abbassian, an economist at the United Nations’ Food and Agriculture Organization, talks about the increase in world food prices to its highest in six months in September. He speaks from Rome with Manus Cranny on Bloomberg Television’s ‘Last Word.’ (Source: Bloomberg)”