World food prices fell 3.7 per cent in July from the month before with declines seen across all crop types, the United Nations food agency said on Thursday. The Food and Agriculture Organisation said in Rome that the drop was the sharpest monthly drop since last December. FAO’s food price index, which measures monthly changes for a basket of cereals, oilseeds, dairy products, meat and sugar averaged 168.8 points in July against an upwardly revised 175.3 in June. READ ALSO: Hundreds protest Denmark’s ban on face veils in public“The decline in July was driven by weaker export quotations for wheat, maize and rice,” FAO said. The sharpest individual falls were registered in the dairy price index and the sugar price index.

Source: Punch August 02, 2018 10:18 UTC