UN FAO: World food prices fell in June for a third month

Global food prices fell 1.8 percent in June from the previous month according to the UN Food and Agriculture Organization. This was the third consecutive monthly decline and the June value is 15.4 percent below the peak reached in February 2011.

The UN FAO wrote in its comments: “Continued economic uncertainties and generally adequate supply prospects kept international prices of most commodities under downward pressure, although growing concerns over adverse weather sustained prices of some crops toward the end of the month. Nonetheless, the price indices of all commodity groups composing the FFPI averaged below May, with the largest drop registered for the Oils/Fats”.

For further reading about the five individual components of the index please visit: http://www.fao.org/worldfoodsituation/wfs-home/foodpricesindex/en/