BackWorld food prices stable in February near seven-year low
FAO food price index averaged 150.2 points in February against a revised 150.0 points the month before
Premium
Rome: World food prices stabilised in February, as rising vegetable oil and meat prices offset declining cereal, sugar and dairy prices, the United Nations food agency said on Thursday.
The Food and Agriculture Organization’s (FAO) food price index, which measures monthly changes for a basket of cereals, oilseeds, dairy products, meat and sugar, averaged 150.2 points in February against a revised 150.0 points the month before.
The tiny rise from January follows an almost 19% slide in 2015, the fourth consecutive annual decline, and a further slump in January.
Food prices in international markets in February were 14.5% lower than a year ago, FAO said. Reuters
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!
