07 May 2015

World food prices fall to near 5-year low

Rome - Global food prices fell in April to their lowest since June 2010 with prices sliding for most commodities, led by dairy prices, the United Nations food agency said on Wednesday.

The UN Food and Agriculture's (FAO) price index, which measures monthly changes for a basket of cereals, oilseeds, dairy, meat and sugar, averaged 171 points in April, 1.2% below its reading in March.

FAO lowered its forecast for world cereal production in 2015 to 2016 to 2.509 billion tonnes, below the March forecast of 2.548 billion tonnes.

Cereal stocks at the end of the 2015 to 2016 season are now forecast to reach 626.6 million tonnes, down from a previous reading of 645.6 million tonnes.

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