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Global commodity prices fell slightly in October, according to the latest FAO Food Price Index. Although prices remained higher at 176.4 points than their September levels, the Index is 27 percent below the all-time high seen in February 2011.

The Vegetable Oil Index fell by 1.8 points from September. Soy oil prices drove much of this decline, falling due to improved harvest prospects in the US and ample global supplies for 2017-2018.

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The latest editions of the FAO Food Price Index and AMIS Market Monitor are both now available for September.

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The most recent edition of the FAO Food Price Index rose to 179.1 points in July, up 3.9 points from June and 10.2 percent above July 2016 levels. This marks the third month of consecutive increase. Supply constraints and currency movements supported to cereal, sugar, and dairy prices. Meat values remained steady in July, while vegetable oil prices fell.

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The latest FAO Food Price Index and AMIS Market Monitor were released earlier this month. The FAO Food Price Index is a measure of the monthly change in international prices of a basket of five food commodity groups; the monthly AMIS Market Monitor covers the international markets for wheat, rice, maize, and soy and provides an overview of the market situation and outlook for each of these crops.

The FAO Food Price Index continued its decline for the third month in a row, falling by 1.8 percent in April. The prices of all commodities covered by the Index declined in April, with the exception of meat; however, the Index remains 10 percent higher than its April 2016 level.

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The FAO Food Price Index fell nearly five points in March, driven by drops in the indices for all commodities except meat. The March Index remained 20 points above its year-earlier level, however.

The Cereal Price Index fell 2.7 points in March and was essentially the same as its March 2016 level. Global cereal supplies remain plentiful, and overall production prospects are favorable for the coming season.

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The latest FAO Food Price Index was released last week, citing slightly higher food prices from January. The February Index rose by 0.9 points from the previous month. While this is a very slight increase, the Index is 17.2 percent higher than its February 2016 levels. It has now reached the highest level seen since February 2015.

Surging cereal export prices brought the FAO Food Price Index to a two-year high in January. The Index rose 2.1 percent above its December level, to 173.8 points. This is the highest level seen since February 2015 and as much as 24.5 points above its January 2016 level.

Photo Credit: Katrin Park / IFPRI

The FAO Food Price Index fell for the fifth consecutive year in 2016, according to the most recently released report. For 2016 overall, the Index averaged 161.6 points, which is down 1.5 percent from its 2015 average. Cereal, meat, and dairy prices all declined in 2016, more than making up for rises in sugar and vegetable oil prices.

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