World food prices continue to fall

World food prices fell for a fifth straight year in 2016 as losses in cereals, meat and dairy outweighed rises in sugar and vegetable oils, the United Nations food agency said yesterday.

Prices remained stable in December from the month before, according to the Food and Agriculture Organisation’s (FAO) main food price index, which has edged up steadily after hitting a seven-year low in January.

The full year 2016 logged a 1.5% annual drop in the index, which measures monthly changes for a basket of cereals, oilseeds, dairy products, meat and sugar.