February 3, 2011 8:47 PM

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World food prices at record high in January

According to UN's Food and Agricultural Organization (FAO), world food prices rose to a record high in January. The FAO Food Price Index, which measures the wholesale price of basic foods within a basket, averaged 231 points last month, up by 3.4 per cent from December. It is the seventh monthly rise for the index. FAO economist said, these high prices are likely to persist in the months to come. The index is now at its highest level since the FAO started the measure in 1990.

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