FAO: March food prices off record high, ready to rebound

April 7, 2011 14:49

MILAN - Global food prices came off record highs in March after unrest in the Arab world and Japan's earthquake, but new increases are in sight as demand grows and supplies tighten, the UN Food and Agriculture Organization said.

Rising food prices have climbed to the top of the international political agenda after contributing to protests that toppled the rulers of Tunisia and Egypt earlier this year, with unrest spreading across North Africa and the Middle East.

The FAO food price index, which measures monthly price changes for a food basket composed of cereals, oilseeds, dairy, meat and sugar, averaged 229.8 points in March, down from February's record of 236.8 points -- falling for the first time after eight months of rises.

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