FAO Food Price Index falls for the first time in 12 months

GLOBAL – The FAO Food Price Index (FFPI) which is a measure of the monthly change in international prices of a basket of food commodities averaged 124.6 points in June 2021, down 3.2 points (2.5 percent) from May.  The fall has been attributed to declines in the prices of vegetable oils, cereals, and, to a lesser degree, dairy prices, which more than offset generally higher meat and sugar quotations.  Maize prices dropped by 5.0 percent in June as a result of increased supplies from recent harvests in Argentina, Brazil, and the United States.  Among other coarse…

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