February 5, 2015 / 9:30 AM / 3 years ago

World food prices fall in January - UN FAO

ROME, Feb 5 (Reuters) - Global food prices fell in January, the United Nations food agency said on Thursday, dragged down by lower quotes for all food groups apart from sugar and dairy products.

The Food and Agriculture Organisation’s (FAO) price index, which measures monthly price changes for a basket of cereals, oilseeds, dairy, meat and sugar, averaged 182.7 points in January, 3.6 points below its revised reading for December.

The global food price index has now dropped every month since April 2014, barring a short-lived respite in October, FAO said.

FAO’s forecast for world cereal production in 2014 hit a new record high of 2.534 billion tonnes, marginally higher than predicted in December.

Cereals stocks at the end of the 2014-15 season are now forecast to be 622.7 million tonnes, marginally lower than previously forecast. (Reporting by Isla Binnie)

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