World food prices lowered in July
Almaty. August 2. KazTAG - The world prices for food products have dropped in July, reports the UN Food and Agricultural Organization.
"The world prices for food products have dropped in July, it was conditioned by drop of prices for some grain, dairy products and sugar, which compensated growth of prices for meat and seed oil," reads the report.
The FAO Food Price Index which measures monthly changes in international prices for a basket of food commodities - was 170.9 points in July 2019, dropping 1.1% from its June value, but still 2.3% higher than the same period last year.
“The FAO grain price index fell 2.7% compared with June, but it was 4.1% higher than its value in July last year. The overall decline in the index was due to lower prices for wheat and corn, driven in particular by abundant export supply. The rice price index, on the contrary, showed stability for the fifth month in a row against the backdrop of moderate market activity, ” said the organization.
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