FAO: Food Price Index Steady for August
September 12, 2012| |
The Food and Agriculture Organization's (FAO) Food Price Index, a measure of the monthly change in international prices of the world food commodities, remains unchanged for the month of August. The FAO Food Price Index has surged by up to 6 percent in July after three months of decline.
The Food Price Index for the said month revealed that the prices of cereals and oils and fats had barely changed but the costs of sugar fell sharply, compensating for rising meat and dairy prices. FAO further remarked that although still high, the Food Price Index for August, 2012 currently stands 25 points below its peak of 238 points in February 2011 and 18 points below its August 2011 level.
See FAO's news release at http://www.fao.org/news/story/en/item/155659/icode/.
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