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Global Food Prices Fall for Third Consecutive Month

The latest measure of global food prices indicates another month of decline. The Food and Agriculture Organization of the United Nation’s monthly report released this week showed a 1.8 percent decline in April. The FAO Food Price Index, however, is still 10 percent higher than year-ago levels. The Index consists of the average of five commodity group price indices, weighted with the average export shares of each of the groups for 2002-2004. Prices for cereal crops were down 1.2 percent compared to March, and the Vegetable Oil Price Index dropped 3.9 percent. Dairy prices fell 3.3 percent in April, representing the second straight month of decline.

Meat prices edged higher in April, up 1.8 percent from March, and the Sugar Price Index dropped 9.1 percent in April, compared to the month prior.

Source: NAFB News Service

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