World food prices fall to lowest level in more than two years

World food prices declined during the month of November to their lowest level in more than two years — led by declines in vegetable oils, dairy and cereal, according to the United Nations food agency.

The Food and Agriculture Organisation’s (FAO) food price index, which measures monthly changes for a basket of cereals, oilseeds, dairy products, meat and sugar, averaged 160.8 points last month — down from a revised 162.9 in October, and its lowest level since May 2016.