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Global Meat, Food Prices Fall for Fifth Year in a Row

18 Jan 2017

• 18 Jan 08:12

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Prices of major food commodities declined for the fifth year in a row in 2016, averaging 161.6 points for the year as a whole, some 1.5 percent below their 2015 levels. Bumper harvests and prospects for staple cereals offset upward pressure on FAO's Food Price Index from tropical commodities such as sugar and palm oil, where production was impacted by El Nino. In December, the Index averaged nearly 172 points, unchanged from November. The FAO Food Price Index is a trade-weighted index tracking international market prices for five key food commodity groups: major cereals, vegetable oils, dairy, meat and sugar. 2016 was marked by a steady decline in cereal. Read more...