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December 5, 2022

World food prices near record high

Global food prices rose sharply in June, according to the UN Food and Agriculture Organisation (FAO), after a steep increase in the price of sugar, BBC News reported. The price of sugar rose by 14% last month, as a result of high demand and lower production in Brazil. The FAO’s food price index reached 234 points in June, close to February’s record level of 239. The sugar price rise fuelled most of the increase, cancelling out falls in prices of wheat, corn and soya.

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