World Food Prices Rise for First Time in Five Months

Vegetable oils—up 3.3% compared with January—hit their highest levels since June 2022. A global rise in palm-oil prices amid diminished Southeast Asia supply, as well as a rise in demand for Canadian rapeseed oil, spurred broader vegetable-oil levels higher. Expectations of U.S. policy in favor of biofuels also supported prices. Read more here.