The monthly World Food Price Index increased by one percent last month. The monthly index measured by the Food and Agriculture Organization of the United Nations was released Thursday. While the overall index increased, the index remains 12 percent lower than March of last year. Sugar prices rebounded in March, along with vegetable oil, which offsets the continued plunge in dairy values. The cereal grains price index was little changed compared with February while the vegetable oil index jumped 6.3 percent. The dairy price index fell 8.2 percent in March to a level last seen in June of 2009. While prices for all dairy commodities fell, butter and cheese were the most affected, reflecting a build-up of stocks in the major exporting countries. The meat price index was little changed, while the sugar price index increased 17.1 percent, reaching its highest level since November of 2014. The report says the increase reflects the expectation of an even larger production deficit during the current crop year than earlier anticipated, following the recent heavy rainfall in Brazil, the world’s biggest sugar producer.