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World food prices hit new record high: UN food agency

World food prices hit a new record high in January, rising for a seventh consecutive month, the UN's Food and Agriculture Organisation (FAO) in Rome said today.

business Updated: Feb 03, 2011 16:12 IST

World food prices hit a new record high in January, rising for a seventh consecutive month, the UN's Food and Agriculture Organisation (FAO) in Rome said on Thursday.

The FAO Food Price Index, which monitors monthly price changes for a basket of commodities, averaged 231 points in January -- up 3.4% from December and its highest level since FAO started measuring food prices in 1990.