FAO Food Price Index Down in September Amid Robust Supplies
Rome - Global agricultural food commodity prices fell in September due to growing inventories of key staples.
The FAO Food Price Index declined 1.4 percent from August and is now 7.4 percent below its level during September 2017.
The FAO Cereal Price Index dropped 2.8 percent, led by maize as expectations of a very large crop in the United States of America pushed export quotations down. International prices of rice and wheat also fell during the month, the latter due primarily to ongoing strong sales and shipments from the Russian Federation.
The FAO Vegetable Oil Price Index posted its eighth consecutive monthly decline, dipping 2.3 percent to a three-year low. Palm oil prices registered the sharpest decline, as large inventories in major exporting countries weighed on price quotations, which are now 25 percent below their level of a year ago...
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