All of the five sub-categories in the index rose, with prices for grains and cereals - the largest component in the index - climbing a stunning 17.1 percent.

The FAO said the main factor behind this rise is that Russia and Ukraine are both major producers of wheat and coarse grains, and prices for these have soared due to the conflict.

Concerns over crop conditions in the United States were also a factor, FAO said. Rice prices, meanwhile, were mostly unchanged compared to February.