Global food prices fall for fifth consecutive year

Major food commodity prices have fallen for a fifth consecutive year overall, according to the Food and Agriculture Organization's Food Price Index.

The figures for 2016 show that prices dipped around 1.5 per cent compared with 2015.

The index tracks international market prices for five key groups: cereals, vegetable oils, dairy products, meat and sugar.

Cereal prices fell steadily in 2016 by nearly 10 per cent, while sugar prices rose sharply, and vegetable oil rose nearly 12 per cent.

FAO Senior Economist, Abdolreza Abbassian said that "economic uncertainties, including movements in exchange rates, are likely to influence food markets even more so this year."


SOURCE: Matthew Wells, United Nations.