FAO: food prices on a six-year low

Food prices fell to the lowest in almost six years, led by plentiful supplies of dairy products and palm and soyabean oil, according to the UN Food and Agriculture Organisation.

The continued fall in food prices resulting from ample supplies will be good news for consumers around the world, especially in poorer countries.

However, it has grave implications for farmers and growers, with prices falling below the cost of production in some sectors such as dairy. (MTI)