For the second consecutive month, global food prices have surged to a new peak in March, eclipsing their December highs. According to the FAO Food Price Index, a benchmark for globally traded commodities, the average reading last month stood at 128.5 points, representing a 2.4 percent increase from February’s tally.
The United Nations has also revised its 2025 global cereal production forecast to a record-breaking 3.036 billion metric tonnes, a nearly 6 percent year-on-year boost. This development comes amidst ongoing concerns from the UN and other international bodies that the conflict in Ukraine continues to exert significant pressure on global food supply chains.
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