Food prices remain unchanged in August, says FAO

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Food prices remained flat in August offering assurances that a repeat of the global food price crisis of 2008 that sparked rioting is unlikely.

That's according to the latest Food Price Index of the United Nations Food and Agriculture Organization (FAO), launched in Rome on Thursday.

FAO says that international prices of cereals, oils and fats changed little in August, but sugar prices fell sharply compensating for rising meat and dairy prices.

The Director-General of FAO, José Graziano da Silva, who presented the Index at a press conference, says this is good news.

"The fact that with regards to rice and wheat, the situation is comfortable by (at) the moment and we don't foresee any push on this demand, brings us to this idea that we are reassuring confidence that the problems that we had with the drought in the U.S. will not let's say pull us for a similar situation as we had in 2008." (Duration: 26")

Mr. Graziano cautioned that there is still need for vigilance and the international community can and should move to calm markets further.