World food prices rose for a fourth straight month in November to remain at 10-year highs, led by strong demand for wheat and dairy products, the United Nations food agency said recently.
The Food and Agriculture Organization's (FAO) food price index, which tracks international prices of the most globally traded food commodities, averaged 134.4 points last month compared with a revised 132.8 for October.
The October figure was previously given as 133.2.
The November reading was the highest for the index since June 2011. On a year-on-year basis, the index was up 27.3% last month.
Agricultural commodity prices have risen steeply in the past year, driven by harvest setbacks and strong demand.
The FAO's cereal price index rose by 3.1% in November from the previous month and was 23.2% higher than its year-ago level, with wheat prices hitting their highest level since May 2011.
FAO said wheat prices were supported by concerns about unseasonable rains in Australia and uncertainty over potential changes to export measures in Russia.
FAO said wheat prices were supported by concerns about unseasonable rains in Australia and uncertainty over potential changes to export measures in Russia.
