DUBAI: Global food prices saw their largest increase in November, driven by a surge in vegetable oil prices, due to lower palm oil output, according to the United Nations price index report.
The price index, compiled by the U.N. Food and Agriculture Organization (FAO) to track the most globally traded food commodities, increased to 127.5 points last month from a revised 126.9 points in October, the highest level in 19 months and up 5.7% from a year ago.
According to the report, the vegetable oil index jumped 7.5% above levels seen a month ago and 32% above those seen a year earlier.
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