Global Food Prices Hit a Two-Year High
- FAO’s meat index jumped 4.6% last month, the most in a decade
- Deadly hog virus in Asia has tightened the global meat market
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Consumers’ food bills have jumped to a two-year high as a hog crisis across Asia boosted meat prices by the most in a decade.
A global gauge of food prices rose 2.7% last month, driven by surging meat and vegetable oil prices, the United Nations‘ Food & Agriculture Organization said. Meat supplies have tightened after a deadly pig virus ravaged China’s herds, prompting the world’s top pork consumer to step up imports. The upcoming festive season also pushed pork and poultry prices up.