FAO reports drop in global food prices

Due to the decrease  in the cost of sugar, vegetable oils and grains, the Organization of the United Nations for Food and Agriculture (FAO for its spanish  acronym) reported this Thursday that global food prices fell in January .

The FAO index had an average of 203,4 points in January, above the figure of 206,2  registered in December. This system measures monthly price changes for a basket formed of cereals, oilseeds. dairy, meat and sugar.

The FAO senior economist Abdolreza Abbassian said that “prices are in more moderate levels and are more stable than in recent years, and in terms of supply there is nothing on the horizon that says that the situation will change.”

It should be noted that in 2013 food prices generally declined compared to the previous two years and have dropped significantly since  2011.