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International food commodity prices continued to decline in August as ample supplies.The index averaged 155.7 points in August 2015, down 5.2 percent from July, the steepest monthly drop since December 2008, with virtually all major food commodities registering marked dips.
In August, the cereal price index averaged 154.9 points, down 7.0 percent from July and 15.1 percent from last year - a decline driven by falling wheat and maize prices that reversed two consecutive months of modest increases. Continued improvements in production prospects for 2015/16 were largely behind the cereal price slides.
The vegetable oil price index averaged 134.9 points in August, down 8.6 percent from July, and its lowest level since March 2009.
A substantial drop in prices for milk powders, cheese and butter pushed the August dairy price index down by 9.1 percent to 135.5 points, with much of the weakness attributed to softening import demand from China, the Near East and North Africa.
A sharp fall in the sugar price index - down 10.0 percent from July to an average of 163.2 points in August.
In contrast to the general downward trend, meat prices in August remained virtually unchanged from the previous month. Nevertheless, compared to the meat price index's historic peak in August 2014, overall prices were down by 18 percent.
Thursday September 10, 2015/ FAO.
http://www.fao.org
