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The Food and Agriculture Organization of the United Nations (FAO) reported that the benchmark index for world food prices fell again in january.
The FAO food price index, which tracks monthly changes in international prices for a set of globally traded food commodities, averaged 118 points in january, down 1 percent from december and 10.4 percent below its corresponding value a year ago.
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The FAO cereal price index decreased by 2.2 percent from the previous month. World wheat export prices declined in january driven by strong competition among exporters and the arrival of recently harvested supplies in southern hemisphere countries, while maize prices fell sharply, reflecting improved crop conditions and the start of harvest in Argentina and increased supplies in the United States.
The FAO vegetable oil price index rose marginally by 0.1 percent from december, but was still 12.8 percent lower than a year earlier, reflecting moderate increases in international palm and sunflower oil prices that offset declines in soybean and rapeseed oil prices.
Translated by: A.M