The global food price index rose again in January

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As a result of higher edible oil prices


MUMBAI: Global food inflation could also be a topic of discussion at the Reserve Bank's Monetary Policy Committee (MPC) monetary policy review meeting starting today.

Global food prices, which were reported to have declined in December, rose again in January. The Food and Agriculture Organization's (FAO) food price index was 1.16 per cent higher than in December. Compared to January last year, the index has risen 19.60 per cent, according to the organization. The January food price index stood at 12.20.

The FAO report said the rise was due to a spike in edible oil prices. The prices of various types of edible oils have gone up.

Edible oil prices rose by 2.50 per cent in January compared to December. Palm oil prices rose on fears of declining availability from Indonesia, while reports of poor production in other countries pushed prices up.

India's strong demand for soyoil is also one of the reasons for the rise in prices. Rising global edible oil prices remain risky for India, as India has met its edible oil requirement through imports.


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