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FAO: World food prices fall driven by sugar, vegetable oils cheapening
07.04.2017 08:02 "Agro Perspectiva" (Kyiv) —
As of this year Mar, global food prices fell driven by a decline in the value of sugar and vegetable oils, UN Radio says referring to the FAO (UN Food and Agriculture Organization) monthly latest index.
It is to be admitted, the index measures monthly changes within international prices of a basket of food commodities.
As to the report, this year Mar vegetable oils’ prices fell 6.2% against this year Feb.
Reportedly, this year Mar sugar prices plummeted 10.9% against this year Feb (to its lowest level since May 2016 ) due to weak import demand.
As to the report, the FAO has also released its first forecasts for cereal markets for this year and 2018.
The agency predicts it will be «another season of relative market tranquillity» with grain inventories remaining at near-record levels.
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