World Food Prices Advance Most in 19 Months on Weather Woes
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World food prices posted the biggest gain in 19 months in February on concern cold weather and drought in the U.S., the world’s biggest exporter of wheat, and dryness in top-sugar producer Brazil will harm crops.
An index of 55 food items rose 2.6 percent to 208.1 points from a restated 202.9 in January, when it dropped to the lowest level since June 2012, the Rome-based United Nations’ Food & Agriculture Organization said. The gauge is still down 2.1 percent from a year earlier.