World food prices rose for the third consecutive month in May as the cost of cereal and dairy products surged, wiping out any benefits from drops in sugar and vegetable oil prices.
Overall, food commodity prices lifted by 0.9% month-on-month in May, the FAO Food Price Index revealed.
Nevertheless, prices remain 3.4% down year-on-year and close to 25% behind peaks suffered in March 2022, when Russia invaded Ukraine.
Cereal prices were pushed higher by "concerns about unfavourable crop conditions for the 2024 harvests" and "damage to the Black Sea shipping infrastructure".
Diary saw its prices increase following a surge in demand in the retail and food service sector ahead of the summer holiday.
Meanwhile, sugar prices eased due to good weather and a positive start to harvest season, while vegetable oils were helped by an increase in production in Southeast Asia.