São Paulo – International food prices have dropped for the first time in three months, as per information released this Thursday by the Food and Agriculture Organization of the United Nations (FAO). The index stood at 203.4 points in January, down 1.3% from December and 4.4% from January 2013. <\/p>\n
The prices of cereals, sugar, oils and beef have declined, according to the FAO. “We’re seeing lower prices due to abundant supplies, but stronger upturn in demand, such as an increase in the pace of imports from Asia, could limit the decline,” said FAO economist Abdolreza Abbassian, according to a communiqué issued on the UN website. <\/p>\n
The price of sugar dropped by 3.8% and vegetable oils’ prices were down 5.6%. Cereals are 1.6% cheaper than in December and 23% cheaper than in January 2013. According to the FAO, good crop results have driven prices down. Cereal production last year exceeded expectations at 2.5 billion tonnes, an all-time high and up 8.5% from 2012. <\/p>\n
The sole exception was dairy, whose prices were up 1.3% as due to strong demand in China, North Africa, the Middle East and Russia. <\/p>\n
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