FAO Food Price Index dips for third consecutive month
3 July 2014, Rome – The FAO Food Price Index was down for a third consecutive month in June. This decline was mostly influenced by lower wheat, maize and palm oil prices that reflected ample supplies and improved global production prospects for these commodities. The Food Price Index, based on the prices of a basket of internationally-traded food commodities, averaged 206.0 points in June 2014, down 3.8 points (1.8 percent) from May and nearly 6 points (2.8 percent) below the June 2013 level. The index had risen to a ten-month high of 213 points in March 2014, but fell in April, May and June, mainly as a result of lower cereal, vegetable oil and dairy prices. Sugar prices also declined in June from May, but remained up from last year, while in contrast, meat prices on average increased from May.
El Mamoun Amrouk is an Economist with FAO’s Trade and Market Division in Rome. In the following interview he explains the Food Price Index for June and puts a spotlight on one of the lesser discussed commodities, sugar.
Produced by: Sandra Ferrari