Fao: Global Food Prices Still At Six-year Low Levels

Worldwide conditions for cereal crops will lead to better-than-expected production this growing season at the global level, which supress the global food prices at six-year low level, according to UN Food and Agricultural Organisation (FAO).

The FAO Food Price Index fell by 0.9 percent to 165.1 points in June on monthly basis, still at its lowest level since September 2009 and as much as 21.0 percent lower than a year earlier.

The Food Price Index is a trade-weighted index that tracks prices on international markets of five major food commodity groups: cereals, meat, dairy products, vegetable oils and sugar.

"Concerns are growing over a sharp shortfall in maize grown in sub-Saharan Africa as well as poor production in other food insecure hotspot areas" the FAO stated in its latest report on global food prices. - Istanbul