Cereal and edible oils fuel fourth monthly drop in global food prices
The Food and Agriculture Organisation’s (FAO) price index, which measures monthly price changes for a basket of cereals, oilseeds, dairy, meat and sugar, averaged 201.8 points in August, about 1.9% below July’s level.
FAO said it had raised its forecast for global cereal production in 2013/14 to 2.492 billion metric tons, up 0.5% from its July forecast and 7.7% higher than 2012 output.
