FAO food price index mostly unchanged in July

The FAO Food Price Index – which tracks the monthly price changes of the main food commodities in international trade – averaged 120.8 points in July, which was slightly below the revised June figure. This time the index closed 3.1% lower than a year ago. The price index for cereals was 3.8% lower than in June, but the FAO vegetable oil price index rose by 2.4% from the June level. As for the meat price index, it was up 1.2% amid strong import demand for sheep, cattle and poultry meat, even as pork prices fell slightly due to oversupply in Western Europe. FAO’s sugar price index rose by 0.7% compared to June, while dairy prices remained unchanged in July. //