Rome—The FAO Food Price Index decreased for a fourth consecutive - TopicsExpress

Rome—The FAO Food Price Index decreased for a fourth consecutive month in July mainly due to a sharp decline in international prices for maize, wheat and certain oilseeds, reflecting ample supplies for these commodities. Based on the prices of a basket of internationally-traded food commodities, the FAO Food Price Index averaged 203.9 points in July 2014, down 4.4 points (or 2.1 per cent) from a revised value in June and 3.5 points (or 1.7 per cent) below the July 2013 level. “The lingering decline of food prices since March reflects much better expectations over supplies in the current and forthcoming seasons, especially for cereals and oils, a situation that is expected to facilitate rebuilding of world stocks,” said FAO senior economist Concepción Calpe. Read more here: guardian.co.tt/business/2014-08-12/falling-prices-push-food-index-down

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