Global food prices decreased in December 2017, led by sharp declines for vegetable oils and dairy products, according to the latest Food Price Index issued by the Food and Agriculture Organization of the United Nations (FAO).

The Report revealed that the FAO Vegetable Oil Price Index declined by 5.6 percent from November, as palm oil prices tumbled amid swelling stocks in Malaysia and Indonesia. This also influenced the decrease in soybean oil prices. On the other hand, the FAO Cereal Price Index remained broadly stable for the third consecutive month, with international wheat prices weakening while those of maize and rice firming up. The Index was 3.2 percent higher over 2017 than in 2016, while still 37 percent below its 2011 peak.

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