World Food Prices Show Decline

World food prices fell in June for the first time in 12 months, pushed lower by declines in vegetable oils, cereals, and dairy products.

The information was released by the United Nations food agency.

The FAO Food Price Index averaged 124.6 points in June, down 3.2 points from May, but still 31.5 points higher than its level in the same period last year.

International wheat prices declined slightly but remained above last year’s values by over 31 percent.

A favorable global outlook supported by improved production prospects in many key producers outweighed upward pressure from dry conditions affecting crops in North America.

Readers Bureau, Contributor

Edited by Jesus Chan

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