World Food Prices Fall To 4-year Low

World food prices reached to 4-year low in September. Prices of all major foods, barring meat, dropped sharply, the United Nation’s Food and Agriculture Organisation (FAO) has said.

The FAO’s price index, which measures monthly price changes for a basket of cereals, oilseeds, dairy, meat and sugar, averaged 191.5 points in September, which is 2.6% less as compared to August.

It is the sixth successive dip in the index, which according to the FAO, is the longest period of constant decline since the late 1990s. “The US dollar’s broad appreciation is affecting all international commodity prices,” it said.

The ban by Russia on import of dairy products from countries that have imposed sanctions against Moscow over the conflict in Ukraine continues to affect dairy prices.