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Prices of major food commodities declined for the fourth year in a row in 2015, averaging 19.1 percent below their previous-year's levels, as the dwindling global economy also triggered sharp price falls from metals to energy markets.
FAO's Food Price Index averaged 164.1 points over 2015 and ended the year even lower, at 154.1 points during the month of December.
FAO's Cereal Price Index declined 1.3 percent in December from its November value, due to intensifying export competition among maize producers and expectations of more wheat supplies entering world markets after Argentina removed export taxes. The sub-index, which includes rice, shed 15.4 percent on average during 2015 from the previous year.
The Meat Price Index dropped by 2.2 percent in December, prompted by surging pork output in Europe and reduced U.S. demand for imported beef. Over the full year, meat was on average 15.1 cheaper than in 2014.
The Vegetable Oil Price Index rose 2.1 percent in December, pushed up by uncertainties regarding Brazil's soybean crop, but over 2015 as a whole was 19 percent below the previous year.
Thursday January 7, 2016/ FAO.
http://www.fao.org
