Global food prices fall slightly in October but stay above last year
The United Nations Food and Agriculture Organization reported on Friday that world food prices dipped in October while remaining higher than a year ago.
Index points drop from September
The FAO Food Price Index averaged 133.9 points during the month, which is lower than the revised figure for September. This decline occurred because weaker import demand pushed down prices for cereals, dairy, and meat products.
Cereal prices fall on supply
Wheat and maize quotations declined as production prospects improved in places like Argentina and the United States. Expectations of better export flows from the Black Sea also added downward pressure on these specific grain costs.
Sugar and oil prices rise
Sugar prices increased by 6.6 percent to reach their highest level since December. Vegetable oil prices edged up slightly because higher soybean and sunflower oil costs offset a drop in rapeseed oil.
All 2 outlets report consistently
No differences in figures, names or dates across these reports.
- Business Recorder
- Dawn
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