FAO Food Price Index falls for the third consecutive month
New update to global price index for key food commodities
Favourable weather has boosted hopes of production increases in major maize producing countries.
©Photo: U.S. Department of Agriculture, Agricultural Research Service (Doug Wilson, image no. K7188-18)
8 August 2013, Rome - The FAO Food Price Index averaged 205.9 points in July 2013, 4 points (nearly 2 percent) below its revised value for June and 7 points (or 3.3 percent) lower than in July 2012. The decline in July, which marked the third consecutive monthly drop, was largely driven by lower international prices for grains, soy and palm oil while sugar, meat and dairy quotations were also down from the previous month.
More details are available on the FAO food price index website.