What's New

The latest FAO Food Price Index , released last week, was unchanged from January levels, remaining steady at 210 points. This is five points lower than the levels seen in February 2012. The Cereals Price Index and Oils/Fats Price Index remained generally steady as well, experiencing a 1 percent drop and 0.4 percent rise, respectively. The slight decline seen for cereals is due mainly to improved wheat and maize prospects in the US.

After a volatile few months following the US drought, global food prices stabilized in January, according to the FAO's latest edition of the Food Price Index. The Index averaged 210 points in January, unchanged from a revised December average.

The latest FAO Food Price Index averaged 209 points in December, down 2 points from November and the lowest level seen since June 2012. The drop is due mainly to declines in grains and oils/fats. Overall, global food prices in 2012 were 7 percent lower than in 2011.

Cereal prices dropped 6 points in December, led by weaker demand for feed grain and larger maize exports from South America. Rice prices also dipped due to expectations of a good harvest.

The FAO released today its Food Price Index for November. The Index fell slightly in October to 213 points, largely due to lower international prices for cereals, oils, and fats. The report also finds that for the first 10 months of 2012, international food prices were on average eight percent lower than during the same period in 2011.

FAO released the latest Food Price Index today. The report cites slightly higher food prices in September, averaging 216 points. The increase was based mostly on the meat and dairy sectors, with smaller increases in grains. The Index is currently 22 points below its peak of 238 points in February 2011, and nine points below its level of 225 points in September 2011.