The United Nations Food and Agriculture Organization (FAO) has published its annual food price index findings which reveal that food prices went down by 19 per cent over the course of 2015, completing four back-to-back years of price-reduction, Reuters reports.
The FAO catalogues shifts in prices for a basket of foodstuffs containing meat, dairy products, products, cereals, sugar and oilseeds.
The assessment of December saw pronounced falls in the prices of cereals, meat and dairy, which were offset somewhat by price increases in the cases of vegetable oils and sugar.
Senior economist of the FAO, Abdolreza Abbassian, said, “Abundant supplies in the face of a timid world demand and an appreciating dollar are the main reason for the general weakness that dominated food prices in 2015.”
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