ROME: Global food prices declined marginally in November, as lower dairy prices offset a sharp increase in sugar and vegetable oil quotations, according to the latest Food and Agricultural Organization (FAO) Food Price Index issued on Friday. The FAO Food Price Index is a measure of the monthly change in international prices of a basket of food commodities. The November decline was driven by a 4.9 percent monthly drop in the FAO Dairy Price Index, as quotations for butter, cheese and whole and skim milk powders all fell. The FAO Meat Price Index was broadly unchanged as bovine meat prices rose and pigmeat quotations declined. The FAO Cereal Price Index registered a small rise in November, led by a 1.1 percent increase in international rice quotations.
Source: Manila Times December 07, 2017 16:07 UTC