FAO Food Price Index Ends Year with Sharp Decline
January 20, 2012| |
The Food and Agriculture Organization has released the December 2011 Food Price Index. At the year's close, the Food Price Index dropped at 2.4 percent or five points from November, and was 11.3 percent below its peak in February 2011. Even in this scenario, FAO Senior Grains Economist Abdolreza Abbassian commented that it was difficult to make any prediction on price trends for the coming months.
Cereal prices have registered the biggest fall due to record crops and an improved supply outlook. Record also showed that maize prices fell 6 percent, wheat 4 percent and rice 3 percent. The Oils and Fats Price Index was down 3 percent from November and below the level last year due to larger overall supplies. The Meat Price Index declined due to the 2.2 decline in pig meat.
Details of food price index of some other commodities can be read in the news release at http://www.fao.org/news/story/en/item/119775/icode/.
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