Africa Business Radio

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 The agency's figures highlighted the soaring cost of cereals and vegetable oils around the world. The UNFAO says its measure of cereal prices was up by more than 22% compared to a year earlier. The UNFAO says its index of vegetable oil prices was pushed up by rises in the cost of palm, soy, sunflower and rapeseed oils. 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.