World food prices steady at two-year low on cheaper oilseeds

Improving supplies of oilseeds and grains are leading to a stabilisation of global food prices even in the face of sugar shortages

Futures for sugar — another major food staple — hit the highest in more than a decade last month. Picrure: Mark Elias/Bloomberg

Global food prices steadied at the lowest in more than two years as improving supplies of oilseeds and some grains countered sugar shortages.

A gauge of food-commodity costs was little changed in September, the United Nations’ Food and Agriculture Organization said on Friday.