Global food prices in marginal decline

Global Food prices eased during the month of March breaking an eight month surge, according to the UN Food and Agriculture Organization.

Global food prices down

Global food prices down

The average price of key commodities including oils, sugar and cereals fell by three percent.

FAO says the decrease was marginal and global food prices still remain high.

David Hallam from FAO says the drop in food prices brings some welcome respite, but it would be premature to conclude that this is a reversal of the surge in global food prices seen in recent times.

“Many of the issues which have been underneath the rising prices over the last few months are all still there. Perhaps what we’re seeing here are the results of a lot of uncertainty of what’s going to be the effects of developments in North Africa and the Middle East, and in Japan of course.”

During the month of March global cereal prices were down 2.6 percent, while the price of oils and fats were down 7 per cent. The price of sugar fell by 10 per cent.

duration: 17″

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