The FAO food price index fell slightly in September

According to the latest report from the Food and Agriculture Organization of the United Nations (FAO), the world food price index recorded a slight decrease in September. This drop is mainly attributed to the reduction in sugar and dairy prices. The FAO food price index, which tracks monthly international prices of a basket of globally traded food commodities, stood at an average of 128.8 points in September, down from the revised August level of 129.7 points. The September reading represents a 3.4% increase from a year ago. Cereals The FAO cereal price index decreased by 0.6% since August. International wheat prices fell for the third consecutive month due to sluggish international demand and confirmation of abundant harvests in major producing countries. World corn prices also declined, following forecasts of ample supplies, as well as the temporary suspension of export taxes on cereals in Argentina. The FAO price index for all types of rice fell by 0.5% due to fewer purchase ...