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Food price index gains in February

This article was originally published in The Public Ledger

THE UN Food and Agriculture Organisation’s food price index averaged 215.3 points in February, up from a revised 212.8 points in January, the Rome-based agency said. This was driven by gains in cereals, vegetable oils and sugar, but the rise was still some 10% off a record high hit in February 2011. FAO senior economist Abdolreza Abbassian played down further rises in the near term, looking for stabilisation as crop seasons progress in main producing countries.

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