World food prices slide marginally in July
- Global food commodity prices saw a slight decline in July, led by lower prices for some cereals, dairy and sugar, more than offsetting firmer prices for meat and oils. The FAO's Food Price Index (FPI) - a trade-weighted index that measures prices of five major food commodities on international markets - averaged 170.9 points in July 2019, slipping 1.1 percent below its level in June but up 2.3 percent from a year earlier. The FAO Cereal Price Index dropped by 2.7 percent from June but is 4.1 percent above its level in July last year. The overall decline was mainly driven by a slide in wheat and maize prices, reflecting, among others, ample export supplies. By contrast, the rice index marked its fifth successive month of stability amid generally quiet market activity.