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Food prices decresed globally in April for the first time this year

2012-05-04 12:21:25

Food prices have dropped globally in April for the first time this year because of cheaper sugar and  cereals, and might include on a downward trend in the coming months, according to Food and Agriculture Organization of the United Nations. Food Price Index, by which the  organization  follows monthly the evolution of prices on world market price for a basket of grain, oil seeds, dairy,  meat and sugar, stood at 214 points in April, compared with 217 points in March, the month for which data were reviewed, according to Reuters. The index was pushed down by 2.5 percent monthly  declines in the prices of maize, with 1 percent on wheat and  5 percent on sugar, which canceled the 2.2 percent increase in vegetable oils. "Prices will probably remain under downward  pressure in coming months," said Abdolreza Abbassian, an economist at the Food and Agriculture Organization, adding that weather remains a critical factor. The price of soybean, growing starting with this year will likely continue to rise, putting pressure on the stock of maize, added Abbassian.



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