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World food prices fall in November: FAO
ROME |
ROME (Reuters) - World food prices fell slightly in November to their lowest level since June, driven by declines in sugar, oils and cereals prices, the United Nations food agency said on Thursday, while cutting its global cereal output forecast for 2012.
The FAO Food Price Index, which measures monthly price changes for a basket of cereals, oilseeds, dairy, meat and sugar, averaged 211 points in November, down 3 points from October, the Food and Agriculture Organisation (FAO) said.
The decline puts the November index value nearly 3 percent below one year ago, FAO said.
The Rome-based agency trimmed its forecast for global cereal production in 2012, estimating a 2.8 percent decline from the previous year to 2.282 billion tonnes.
(Reporting by Catherine Hornby)
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