Global food prices down 7%

on 10/01/2013 10:29:22

Global food prices fell by 7% in 2012 easing worries a few months ago that the world could be heading for a food crisis.

The UN's Food and Agriculture Organisation says prices fell in December for the third month in a row.

The Food Price Index averaged 212 points in 2012, a drop of 7%, owing largely to falls in the prices of sugar, dairy products and oil.

A monthly measure of changes in a basket of food commodities showed prices dropped in December by 1.1% to 209 points, down for the third month from the 263 points registered in August.