Food prices
declined in December, resuming the longer-term trend after two months of slight
increases.
The United
Nations’ Food and Agriculture Organization reports that its survey of 73 foods
indicates a price decline of 1.6 per cent in November.
Food prices
have fallen 18 percent in the past year.
There have
been bumper crops and declining demand for some meat and poultry products.
Sugar was the
only major commodity in the FAO’s index that increased - by 4.6 percent.
All other
sectors saw declines, led by a 3.1 percent for vegetable oils and a 2.9 percent
for dairy.
All other
sectors saw declines, led by a 3.1 percent drop for vegetable oils and a 2.9
percent slide in dairy.
Grains also
fell, despite an FAO prediction that there will be less this year. Global
output was pegged at 2.527 billion metric tons, slightly lower than last
month’s forecast of 2.53 billion tons.
Prospects have deteriorated for China’s
corn crop because of dry weather, according to the report.
