BackGlobal food prices fall 1% in December: FAO
FAO food price index averaged 154.1 points in December versus a revised 155.6 points the month before
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Rome: Global food prices fell in December, with all food commodities in the index falling apart from sugar and oils, 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 154.1 points in December versus a revised 155.6 points the month before.
December’s 1% drop rounded off a year in which global food prices plunged nearly 19%, their fourth consecutive annual decline.
“Abundant supplies in the face of a timid world demand and an appreciating dollar are the main reason for the general weakness that dominated food prices in 2015," said FAO senior economist Abdolreza Abbassian. Reuters
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