UN Agency: World Food Prices Fall in May
The FAO Food Price Index averaged 124.3 points in May, falling by 2.6% from April.
The FAO Food Price Index is a trade-weighted index that tracks international market prices of five major food commodity groups.
The cereal price index decreased 4.8% month-on-month in May, led by declines of 9.8% in world maize and 3.5% in wheat prices, according to the UN food agency.
The vegetable oil price index slipped 8.7% from the prior month, reflecting lower prices for palm, soy, rapeseed and sunflower oils.
The dairy price index edged down 3.2% in the same period, led by a steep drop in international cheese prices.
The FAO Sugar Price Index, on the other hand, increased for the fourth consecutive month, up by 5.5% from April.
The meat price index also marked the fourth successive monthly hike in May, rising 1% from the previous month.
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