For the second straight month, the world witnessed a sharp increase in food prices in March, marking a new high since December. According to the FAO Food Price Index, a benchmark that monitors a diverse range of globally traded commodities, the average reading for last month stood at 128.5 points, representing a 2.4 percent surge from February’s tally.
In a contrasting development, the UN has revised its 2025 global cereal production forecast upward, projecting a record 3.036 billion metric tonnes, a nearly 6 percent year-on-year increase. This upward revision comes as the UN and other international bodies continue to sound the alarm about the ongoing conflict in Ukraine, which remains a significant strain on global food supply chains.
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