The global food price index has been falling for five consecutive months... prices of dairy products, meat, and sugar have declined.

(Seoul=Yonhap News) Reporter Han Ju-hong = The global food price index fell for the fifth consecutive month. The United Nations Food and Agriculture Organization (FAO) announced on the 6th (local time) that the global food price index for January (average price for 2014-2016 being 100) was 123.9, down 0.4% from the previous month (124.3), and down 0.6% from a year ago. The prices of dairy products, meat, and sugar declined, while the prices of cereals and oils increased. The cereal price index was 107.5, up 0.2% from the previous month. Wheat prices remained stable overall, while corn prices fell. In contrast, rice prices rose. The oil price index rose 2.1% from the previous month to 168.6. Palm oil prices rose for two consecutive months due to seasonal production slowdowns in Southeast Asia and increased global demand, and soybean oil prices also rose due to reduced exports from South America. The meat price index was 123.8, down 0.4% from the previous month. The main factor was the decline in pork prices, while beef and lamb prices remained stable overall. However, poultry prices rose. The dairy price index was 121.8, down 5.0% from the previous month. The main reasons were the declines in cheese and butter prices. The sugar price index was 89.8, down 1.0% from the previous month. The expected increase in supply due to the surge in production in India and the positive production outlook in Brazil contributed to the price decline. juhong@yna.co.kr