World food prices fell 1.8 per cent in April from the month before as values declined for all agricultural commodities except meat, the United Nations food agency said on Thursday.
The Food and Agriculture Organisation’s (FAO) food price index, which measures monthly changes for a basket of cereals, oilseeds, dairy products, meat and sugar averaged 168 points in April, down 3.1 points from March.
FAO marginally raised its forecast for global cereals output in the 2017-2018 season to 2.599 billion tonnes.
Global wheat production is expected to hit 740 million tonnes, short of last year’s record harvest. (Reuters/NAN)
