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FAO's Food Price Index rose for the second month running in April, climbing one percent, or two points.
As in March, last month's increase was driven almost exclusively by a sharp rise in dairy prices. Prices of most other food commodities fell. At 215.5 points the April Food Price Index was also 1 percent higher than in April 2012 It currently stands 9 percent below its peak recorded in February 2011.
The FAO Dairy Price Index averaged 259 points in April, a rise of nearly 34 points (14.9 percent) from March and the second largest monthly change on record. The main cause was a steep decline in milk production in New Zealand, the world's largest dairy exporter.
The FAO Cereal Price Index averaged 235 points in April, down 10 points (4.1 percent) from March, but nearly 11 points (4.9 percent) over April 2012.
The FAO Oils/Fats Price Index averaged 199 points in April, down 2 points (1.5 percent) from March. Weakening energy prices and persistent concerns about the global economy continued to weigh on the vegetable oil complex as a whole.
The FAO Meat Price Index averaged 179 points in April, a level which it has maintained since the latter part of 2012, moving within the narrow band of 177 - 179. Nevertheless, meat prices overall remain high by historical standards.
Tuesday May 9, 2013/ FAO.
http://www.fao.org
