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World food prices fall 1.3% in August: FAO

Record cereals prospects push down global food prices


World food prices fell in August from the month before as the prospect of bumper harvests pushed down cereal values, the United Nations food agency said on Thursday. Despite the drop, food on international markets remained 6 percent more expensive than a year earlier. Food commodities have emerged from an era of intense volatility and the UN Food and Agriculture Organization (FAO) expects them to remain stable over the next decade. The FAO's food price index, which measures monthly changes for a basket of cereals, oilseeds, dairy products, meat and sugar, averaged 176.6 ...

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First Published: Thu, September 07 2017. 16:32 IST