São Paulo – The price index surveyed monthly by the Food and Agriculture Organization of the United Nations (FAO) recorded in February the lowest prices of the last 55 months. The index was released by FAO Thursday (5th), in Rome.
According to the organization, the average index went to 179.4 points in February, a decline of 1% in comparison to January and 14% over the same period of last year. They’re the lowest prices since June 2010. In its evaluation, the organization believes that the prices are dropping due to the “robust” supply, good crops and because currencies are devalued against the dollar.
FAO’s price index is based on five other indicators. The one measuring cereals dropped 3.2% in January, the one concerning sugar dropped 4.9%, and the meat index declined 1.4%. While the costs of milk and its products increased 4.6% over January, and the oil seeds index went up 0.4%.
*Translated by Sérgio Kakitani
