The latest Food Price Index shows a slight decrease in global food prices in July. Compiled by the Food and Agriculture Organization of the United Nations, the index dipped .08 percent last month to a reading of 161.9. The modest decline in July followed five consecutive monthly increases, and was largely caused by drops in international prices of grains and vegetable oils, more than offsetting firmer dairy, meat and sugar prices. Average prices for cereal grains fell 2.8 percent for the month, and vegetable oil prices were down the same. However, dairy priced increased by 3.2 percent on average, and meat prices climbed 1.3 percent from June. Sugar prices increased one percent from the previous month.
From the National Association of Farm Broadcasting news service.