“The FAO Food Price Index fell one percent in October 2012, and for the first ten months of the year food prices were on average eight percent lower than in the same period in 2011.
The Index dipped two points to 213 points from September’s revised level of 215 points. The decline was largely due to lower international prices of cereals and oils and fats, which more than offset increases in dairy and sugar prices.
Meanwhile the FAO Food Outlook, a biannual global market report also published today, noted that lower international prices and freight rates, together with lower cereal purchases, could push down the world food import bill in 2012…”
Read the full article from the FAO Media Centre.