World food prices fell for the seventh consecutive month in February as falling grain prices weighed on more expensive sugar and meat, the Food and Agriculture Organisation (FAO) said on Friday.

 The United Nations (UN) agency said its food price index fell 0.7 percent in February and was 10.5 percent lower than a year ago.
The FAO index measures the market prices of commodities and can take time to reach supermarket shelves. It reflects only a fraction of the price of finished processed products.

The organisation said that the price of cereals alone fell by 5% in February, a drop of 22.4% compared to February last year. According to the FAO, maize has contributed to this, as a large harvest is expected in South America and Ukraine offers competitive prices. Wheat was dragged down by stronger Russian exports and rice prices also fell. A bumper harvest in South America has also depressed vegetable oil prices.

Marks : food, prices, FAO, world.

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