Biggest Dairy Surge in 7 Years Extends Global Food-Price Rally
- FAO gauge of dairy products jumped 14 percent in September
- World food index at 18-month high even as grain prices drop
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The biggest surge in dairy costs in almost seven years and a rally in sugar helped boost global food prices to the highest in 18 months.
The United Nations’ food price-index rose 2.9 percent in September, the seventh gain in eight months, the group’s Food & Agriculture Organization said on its website Thursday. A gauge of dairy costs jumped 14 percent, the most since November 2009, while an index tracking sugar climbed 6.7 percent.