São Paulo – The United Nations’ Food and Agriculture Organization (FAO) said this Thursday (8th) that its Food Price Index, which tracks the average prices of a group of food commodities, grew 1% in September from August, but remains at the lowest levels of the past six years. The FAO also said price should remain low in months to come due to high inventory levels and declining trade flows.
The FAO’s index calculations are based on the prices of five commodity groups. Cereal prices scored 134.2 points in September and remained flat against August. The index for vegetable oil prices stood at 134.2 points, down 0.5%. Dairy prices were up 5% to 142.3 points. Meat prices reached 170.5 points, virtually flat, and sugar prices scored 168.4 points, up 3.2% from August.
In September 2014, the index scored 192.7 points. Last month, the score was 156.3 points. In August, the Food Price Index stood at 155.1 points.
*Translated by Gabriel Pomerancblum
