According to the United Nations, global food prices have hit record highs and could rise even further. The UN's Food Price Index rose 2.2% in February to the highest level since the UN's Food and Agriculture Organisation (FAO). It also warned that spikes in the oil price could make the "already precarious" situation in the food market even worse.
Apart from sugar, the FAO said all commodity groups had risen in price.
Oil prices recently hit two-and-a-half year highs due to political unrest in North Africa and the Middle East. The FAO said the volatility in the oil markets was adding to an already difficult and uncertain situation.