Food prices drop to 11-month low in October

Rice being sold at the Pontsonde market on the banks of the Artibonite River, Haiti.

Food prices dropped to an 11-month low in October, according to the United Nations Food and Agriculture Organization (FAO).

In its November Index, published on Thursday, FAO says the drop was triggered by sharp declines in international prices of cereals, oils, sugar and dairy products.

However, the UN agriculture agency points out that food prices still remain generally higher than last year and are very volatile.

It also says that the bill for imported food for the least developed countries increased by almost a third from last year and is expected to be about $1.3 trillion this year.

Filed under Today's News.
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