Global Food Prices Pushed Higher Again by Surging Grain Costs
- Tighter crop markets push grain prices up most in eight years
- Global food prices extend rally to the highest since January
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Global food prices remain on a tear as tightening crop markets boost grain costs by the most in eight years.
A United Nations gauge of food prices rose for a fifth month to the highest since January, nearing a multiyear peak set just before the coronavirus crisis took hold. Last month’s increase was largely fueled by a rally in grains, with the UN’s Food & Agriculture Organization cutting estimates for crop production and stockpiles as adverse weather threatens corn and wheat supplies.