World food prices measured by the UN’s food agency are likely to be little changed for the month of May following a rollercoaster ride, first with a market-wide sell-off and then a recovery due to supply and weather concerns.

The United Nations' Food and Agriculture Organisation (FAO) is to update its monthly Food Price Index today. The index measures price changes for a basket of cereals, oilseeds, dairy products, meat and sugar.

The FAO's global food index hit a record high of 237 points in February, driven by rising grain prices and tight supplies, but fell in March and then recovered slightly in April, with the agency warning prices could rise again soon.

Governments, especially in developing countries, are trying to contain food prices to avoid a repetition of the 2007/2008 food crisis, when soaring prices sparked street riots. Belarus in May decided to freeze some food prices.

Earlier this year, rising food prices helped fuel protests that toppled rulers in Tunisia and Egypt, with unrest spreading through North Africa and the Middle East, major grain importing regions.

Early in May, international grain markets were hit by the biggest commodities sell-off since 2008, but concerns that adverse weather could damage crops in the biggest producing countries have since given some support to prices.

Reuters