World Food Prices Down 3.7% In July, Says FAO

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World food prices fell by 3.7 percent in July compared with the previous month, and declines declined for all types of crops, the United Nations Food and Agriculture Agency said on Thursday.

The Food and Agriculture Organization (FAO) said in Rome that the fall was the sharpest monthly drop since December last year.
The FAO Food Price Index, which measures monthly changes in the basket of cereals, oilseeds, dairy products, meat and sugar, was 168.8 in July, compared to the revised 175.3 in June.

"The decrease in July was due to weaker export quotations for wheat, corn and rice," FAO said.

"In the first half of the month, international wheat prices were generally weaker, but concerns about the prospects for production in the EU and the Russian Federation began to increase export values ​​by the end of the month," he added.

The sharpest individual falls were recorded in the price index for dairy products and the sugar price index.

FAO did not submit any new forecasts for the production of cereals in 2018. The next new forecast will be held on September 6 (Reuters / NAS)



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