FAO Reports World Cereal Prices Reach a 19-Month High Due to Rising Fuel and Fertilizer Costs
The Food and Agriculture Organization (FAO) reported that global cereal prices hit their highest level in 19 months in May, driven by rising fuel and fertilizer costs linked to the Strait of Hormuz blockade. The FAO Cereals Index rose 2.6% month-on-month and was up 5% year-over-year.
