FAO Reports Sharp Drop in Food Price Index
May was lowest month for food prices since September 2011
Global food prices dropped sharply in May due to generally favorable supplies, growing global economic uncertainties and a strengthening of the US dollar, FAO said on June 7.
The FAO Food Price Index, measuring the monthly change in international prices of a basket of food commodities, fell by four% in May. It averaged 204 points and was 9 points down from April. This was the lowest level since September 2011 and about 14 percent below its peak in February 2011.
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