Global food prices drop 1.3 per cent in January: FAO

February 09, 2014 11:56

Global food prices fell 1.3 percent in Januray from December levels on large supplies of oils, sugar and cereals, according to the United Nations food agency FAO.

"We are seeing lower prices due to abundant supplies but stronger upturn in demand, such as an increase in the pace of imports from Asia, could limit the decline," said FAO economist Abdolreza Abbassian.

The Food and Agriculture Organisation price index measures monthly price changes for a basket of cereals,oil seeds, dairy products, meat and sugar.

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