Global food prices fall again – FAO

ANKARA: International meals costs fell for the tenth straight month in January, the UN Meals and Agriculture Group ( ) reported on Friday.

The FAO meals value index averaged 131.2 factors in January, down 0.8 p.c from the earlier month.

The decline within the main was led by declines in value indices for vegetable oils, dairy and sugar, whereas these for grains and meat remained broadly secure over the previous month.

The FAO Meals Worth Index is a trade-weighted index that tracks the worldwide market costs of 5 main meals commodity teams.

The vegetable oil value index fell 2.9 p.c in January from the earlier month attributable to decrease world costs for palm, soybean, sunflower and canola oil.

The December milk value index fell 1.4 p.c to a 12-month low in January, buoyed by decrease worldwide costs for butter and milk powder.

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The sugar value index fell 1.1 p.c, marking the primary decline after sharp will increase within the earlier two months.

“Sturdy crop progress in Thailand and favorable climate circumstances in Brazil outweighed the impression on costs attributable to issues about decrease crop yields in India, greater gasoline costs in Brazil supporting demand for ethanol, and the appreciation of the Brazilian actual towards the US greenback,” stated the FAO

The meat value index edged down 0.1 p.c in January, the seventh straight month-to-month decline, whereas the grain value index rose 0.1 p.c.