Decline in global food prices
The price of sugar tops the further decline in the United Nations Food and Agriculture Organisation, FAO Food Price Index declined to a 55-month low in February, dropping 1.0 percent from January and 14 percent below its level a year earlier.
According to the recent report released on Thursday by FAO, lower prices for cereals, meat and especially sugar more than offset an increase in milk and palm oil prices.
The FAO Food Price Index averaged 179.4 points in February, down from 181.2 points in January and 208.6 points in February 2014. (hirado.hu, MTI)
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