World food prices rise to the highest level in 18 months in October, as weather disruptions and rising fuel costs intensified inflationary pressures, the United Nations Food and Agriculture Organization (FAO) reported on Friday.
The FAO Food Price Index, a gauge tracking monthly changes in international prices of commonly traded food commodities including cereal, sugar, meat, dairy and vegetable oils，rose by 2.0 percent from September to 127.4 points in October, the highest since April 2023.
The prices index of all categories rose except for meat, with vegetable oils jumping more than 7 percent from the previous month, fueled by concerns over production, the FAO said.
The price index of sugar rose 2.6 percent from September amid concerns over the impact of prolonged drought on the 2024/2025 production outlook in Brazil, the world's leading sugar producer.
The cereal price index edged up 0.9 percent from September as the import prices of wheat and corn rise.
The dairy prices also gained 1.9 percent, mainly supported by the rising prices of cheese and butter.
The only declining sub-index in October was for meat, which edged down 0.3 percent from September. FAO said increased supply in Western Europe was enough to compensate for higher demand in some markets.
World food price index hits 18-month high in October: FAO
Iran will work with other members of the BRICS and the Shanghai Cooperation Organization (SCO), both very important cooperation mechanisms with bright prospects, to achieve common goals and visions, said Iranian Foreign Minister Seyyed Abbas Araghchi in an interview with China Media Group.
Araghchi took the interview in Beijing on Dec 28, 2024, during his two-day visit to China.
BRICS is the acronym for an emerging-market cooperative mechanism that initially comprised Brazil, Russia, India, China and South Africa. It has now evolved into an influential international cooperation mechanism with an expanded membership.
Iran became a full member of the BRICS on Jan 1, 2024. Last October, Iran attended the BRICS summit in Kazan of Russia for the first time as a full member.
"I have seen very good visions in the BRICS cooperation mechanism. It has a broad prospect. I hope that goals can be achieved through collective cooperation among BRICS countries," Araghchi said.
The SCO, established in 2001, is a regional political, economic and security organization. Iran joined the SCO in 2023.
China has assumed the rotating presidency of the SCO for 2024-2025 and will host the 25th Meeting of the Council of Heads of State of the SCO.
Araghchi said Iran is looking forward to the summit and will contribute to the development of the bloc with its ideas.
"We believe that besides the BRICS, the SCO is also very important. Therefore, Iran applied to join the bloc. The 2025 SCO summit will be held in China, and our president Masoud Pezeshkian plans to attend the event. Iran has some very good ideas about the SCO, which can help it with some goals. Iran will work with the SCO to realize the vision of the bloc," Araghchi said.
Iran values cooperation within BRICS, SCO: Iranian FM
