World food prices fell slightly in September, according to the FAO

The food price index compiled by the Food and Agriculture Organization of the United Nations (FAO) was slightly below the August level. Declines in the indices of cereals, dairy products, sugar, and vegetable oils offset the increase in the meat index. On the one hand, the sugar price index was the one that decreased the most in September, with a 4.1% drop from August. "The drop was driven by the fact that sugar production in Brazil was higher than expected, as a result of abundant grinding volumes and increased use of sugarcane for sugar production in the main southern growing regions," explains the FAO. Furthermore, dairy products fell by 2.6% compared to August, marking their third consecutive monthly decline. All sub-indices recorded a decrease: butter fell by 7%, skimmed milk powder by 4.3%, and whole milk powder by 3.1%, while cheese quotations declined only slightly. As for vegetable oils, the index declined by 0.7% since August. The decrease was mainly due to the drop in ...