World food prices in November were down 1.6%

Moscow. December 3. Food price index FAO (food and agriculture organization of the United Nations) in November compared to October fell by 1.6% to 156,7 paragraph, “against the backdrop of sustained global stocks,” according to a press release from the organization.

This percentage is 18% lower than in November 2014.

The cereal price index declined in November by 2.3% compared with October. First of all, cheaper feed grain, due to the high offer of maize from the USA.

FAO has upgraded its forecast for global grain harvest – 2 billion 527 million tons, which is 1.3% below the record level of the previous year.

The price index for vegetable oils decreased by 3.1%, dairy products – by 2.9%. “Meat prices also fell, while sugar prices are steadily increasing for the third month in a row,” – said in a press release.

Index FAO food price – weighted average of the monthly change in international prices of a basket of five food commodity groups of commodities: cereals, meat, dairy products, vegetable oils and sugar.