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World food prices reach 19-month high in November, UN says
Global food prices reached their highest level in 19 months in November, increasing to 127.5 points, as reported by the U.N. food agency.
Vegetable oil prices surged 7.5% from October and are 32% higher than a year earlier due to palm oil output concerns.
The FAO forecasted a 0.6% decline in global cereal production for 2024, trimming it to 2.841 billion metric tons, still the second-largest output on record.