FAO’s food basket in negative territory

The FAO Food Price Index (FFPI) averaged almost 171.9 points in December 2016, unchanged from November with strong gains in the prices of vegetable oils and dairy largely offsetting a fall in sugar and meat quotations.

2016 as a whole, the index averaged 161.6 points, down 1.5 percent from 2015, representing the fifth consecutive annual decline. While prices of sugar and vegetable oils rose significantly in 2016, falling prices in cereal, meat and dairy markets kept the Index below its 2015 average. (by our colleague)