FAO: Food Prices Dip in October
International food commodity prices dipped in October, as falling dairy, meat and vegetable oils prices more than offset a surge in sugar prices, the United Nations said today.
The FAO Food Price Index, a measure of the monthly change in international prices of a basket of food commodities, averaged 163.5 points in October, down 0.9 percent from September and 7.4 percent below its level a year earlier.
The FAO Dairy Price Index led the overall decline, slipping 4.8 percent from the previous month and 34 percent below the peak reached in February 2014. The weaker prices reflect increased export supplies across all major dairy products, especially from New Zealand.
The FAO Meat Price Index declined 2.0 percent from September, with ovine, pig, bovine and poultry meat all posting drops due mostly to abundant export supplies...Full Story »Nov 2 8:59 AM, General News