World Food Prices Drop in February
World food prices declined in February for the first time in four months due to a sharp fall in the export prices of vegetable oils, partly driven by fears that the coronavirus (COVID-19) outbreak will slow global demand.
The FAO Food Price Index, which tracks monthly changes in the international prices of commonly-traded food commodities, averaged 180.5 points in February, down 1.0 percent from the previous month but still 8.1 percent higher than a year earlier.
The FAO Vegetable Oil Index declined 10.3 percent from January, with international palm oil prices falling by even more on account of higher-than-expected output in Malaysia, a temporary drop in...
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