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Friday, December 4, 2015

World Food Prices Continue Decline

The Food and Agriculture Organization Food Price Index dropped again in November, according to the United Nations agency. The FOA Thursday released the price index, which averaged 156.7 points in November, down 2.6 points, or 1.6 percent from October. Except sugar prices, all commodities included in the price index dropped under continued pressure of a strong dollar and generally abundant supplies. Despite recent gains, sugar prices have fallen 10 percent compared to last year. The recent increases were attributed to continued concerns over harvesting delays caused by excessive precipitation in the South-Central producing regions in Brazil. The overall price index has dropped 18 percent since 2014. Meat values have recorded the sharpest fall, down 23 percent compared to this time last year.