Global Food Prices Hit Fresh 10-Year High

The United Nations Food and Agriculture Organization says Global food prices have hit the highest level in over a decade after rising by more than 30% in the last year <br />The agency&#039;s figures highlighted the soaring cost of cereals and vegetable oils around the world. <br />The UNFAO says its measure of cereal prices was up by more than 22% compared to a year earlier. <br />The UNFAO says its index of vegetable oil prices was pushed up by rises in the cost of palm, soy, sunflower and rapeseed oils. <br />The UNFAO says in the case of palm oil, prices have been driven higher after output from Malaysia was subdued due to ongoing shortages of migrant workers.