The United Nations World Food Price Index fell slightly last month as increases in the prices of meat, vegetable oils, and sugar partially offset the fall in the cereal index.
The FAO Price Index, which tracks the world's most traded primary food commodities, recorded 120.8 points in July, down from 121 in June. The June reading was revised from 120.6 points at the beginning.
FAO's cereal price index fell 3.8 percent, the lowest level in nearly four years, as global export prices for all major cereals fell for the second month in a row. According to FAO, wheat prices have declined due to seasonal abundance of ongoing winter wheat harvests in the northern hemisphere and favorable conditions for spring wheat crops in Canada and the United States.
Source (Al-Arab Newspaper of London, Edited)
