World Food Prices Dip In February, Hurt By Coronavirus: FAO

World food prices slipped in February, ending four months of successive increases, with the spread of coronavirus dampening demand for some products, the United Nations food agency said on Thursday.

The Food and Agriculture Organisation (FAO) food price index, which measures monthly changes for a basket of cereals, oilseeds, dairy products, meat and sugar, averaged 180.5 points last month, down 1.0% on January.

FAO said the spread of the coronavirus contributed to the price decline in both indices amid fears the outbreak would trigger a global slowdown.

The virus has so far infected at least 95,300 people globally and caused more than 3,200 deaths.

ESM