Food Prices Rising Worldwide

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The cost of food is likely to keep rising around the world, according to the United Nations' Food and Agriculture Organization.

Last year, food prices hit record highs and if the first three months of 2012 are any indication, they may do so again this year.

For the third consecutive month, global food costs rose in March.

High oil prices are one reason for the spike, along with tight supplies of grains.

"The food price index has an extremely high correlation to oil prices and with oil prices up, it's going to be difficult for food prices not to follow suit," Reuters quoted commodity analyst Nick Higgins.

Bad weather in some areas has also hurt the production of important crops.

All these factors have contributed to rising food prices, despite the weakened economy worldwide.

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