FAO Food Price Index Slumps In July

The Food and Agriculture Organization of the United Nations (FAO) food price index, which measures monthly changes for a basket of cereals, oilseeds, dairy products, meat and sugar averaged 168.8 points in July against an upwardly revised 175.3 in June. Global agricultural food commodity prices fell sharply in July, as all the significant traded items posted notable declines, led by dairy and sugar.