July 6, 2010
World dairy, grain prices fall in June
World food prices dropped in June from the previous month as falling costs for dairy and cereals more than compensated for higher sugar prices, the United Nations' Food and Agriculture Organisation (FAO) said.
The FAO's index of 55 foods dropped to 162.6 points from 164.2 points in May, the Rome-based UN agency said in a report. The indicator fell to the lowest level since October.
The dairy-price index fell to 203.1 points from 209.2 and the cereals index dropped to 151.7 points from 155.2, the lowest level for the grain-price gauge since May 2007, according to the report.
Sugar prices increased, and the index for costs of the sweetener climbed to 224 points from 215.7 points, the lowest since April 2009.
The meat-price index was little changed at 136.4 points, while the oils index slipped to 168.4 points from 170.4, the report showed. The basis for the FAO index is 2002 to 2004.
