UN: Global food prices highest in 2 years

[September 01, 2010]  ROME (AP) -- A U.N. agency says international food prices have risen to their highest level in two years.

The Rome-based U.N. Food and Agriculture Organization said Wednesday its food price index shot up 5 percent between July and August. That was still 38 percent down from its peak in June 2008.

It says the food price surge reflected a sudden sharp rise in wheat prices following drought in Russia and the country's subsequent restrictions on wheat sales. Higher sugar and oilseed prices also were factors.

[Associated Press]

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