Food Prices Slightly Lower in April

World food prices took a small step down in April after reaching a record high in March. Reuters says global food security is still a big concern because of challenging conditions in world markets. The Food and Agriculture Organization’s food price index, which tracks the most globally-traded food commodities, averaged 158.5 points in April compared to 159.7 in March. FAO’s chief economist Maximo Cullen says the small decrease in the index is a welcome relief. “However, food prices are still close to their recent highs,” Cullen says. After dropping from the March high point, the April index is still almost 20 percent higher than last year. The cereal price index fell 0.7 percent in April after jumping 17 percent higher in March. The vegetable oil index dropped 5.7 percent in April because of demand rationing. Sugar prices increased three percent, meat rose two percent, and the dairy index was up 0.9 percent.

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