World food prices rose in July led by vegetable oils, dairy products and sugar, extending a rebound from the previous month following sharp falls triggered by the coronavirus pandemic, the United Nations food agency said on Thursday. The Food and Agriculture Organization’s food price index, which measures monthly changes for a basket of cereals, oilseeds, dairy products, meat and sugar, averaged 94.2 points in July versus a slightly revised June figure of 93.1 points. “Similar to June, further increases in the prices of vegetable oils, dairy products and sugar outweighed lower prices in the meat markets amid overall steady value of the cereal price index,” the FAO said in a statement. The agency’s vegetable oil price index climbed 7.6% in July to reach a five-month high. Palm oil was buoyed by expected production slowdowns, revived global demand and protracted migrant labour shortages, while soyoil and rapeseed oil […]