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FAO's monthly food price index registered another drop in August, continuing a 5-month downward run and reaching its lowest level since September 2010.
The index's August average of 196.6 points represents a decrease of 7.3 points (3.6 percent) from July. With the exception of meat, prices for all of the commodities measured by the index dipped markedly.
FAO's price index for cereals averaged 182.5 points in August, down 2.8 points (1.5 percent) from last month and 24.2 points (11.7 percent) versus August 2013.
With 2014 being another record year for wheat production, prices for the staple grain continued to slide in August, reaching their lowest value since July 2010. Similarly, near-ideal growing conditions in key producing areas, coupled with abundant stocks, have seen maize prices retreat to a 4-year low.
However rice bucked the trend in grains, with its prices rising in August, reflecting increased import demand, lower-than-expected releases from stockpiles by Thailand, and unfavorable weather affecting some crops in Asia.
Meat prices remain strong
Meat sub-index averaged 207.3 points in August, 2.5 points (1.2 percent) more than in July but 25 points (14 percent) above last year.
Thursday 11 September 2014/ FAO.
http://www.fao.org
