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Global Food Prices Up In July

Posted on 10 August 2012.

Global Food Prices Up In July

ROME (AP) — International food prices rose sharply in July after three months of decline, driven by a spike in grain and sugar prices, a United Nations report said Thursday.

Severe drought gripping the U.S. Midwest has sent corn prices soaring by almost 23 percent and expectations of worsened crop prospects in Russia because of dry weather sent world wheat prices up 19 percent.

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