World food prices fell in November

World food prices declined. The food price index calculated by the United Nations Food and Agriculture Organization (FAO) dropped by 0.5 percent, to 175.8 points from the previous 176.6 points.

However, compared with the 171.9 points of November last year, the index was still 3.9 points higher, which is a 2.3 percent rise in prices.

FAO’s food price index is a trade-weighted index that takes into account the international market price of the five most important food ingredients – vegetable oils, grain crops, meat, dairy products and sugar.

In November the price of sugar increased considerably, the prices of cereals and vegetable oils increased moderately, while the price of meat decreased slightly and the price of dairy products dropped drastically. (MTI)