World Food Prices Ease in June, Dairy Prices Plunge-U.N. FAO
World food prices eased slightly in June, ending a run of five months of consecutive gains, pushed down by a plunge in the price of dairy products, the United Nations food agency said on Thursday.
The Food and Agriculture Organization (FAO) also kept its forecast for worldwide cereal production in 2019 unchanged from June but up some 1.2 percent on 2018 levels, with most of the growth expected to come from higher wheat production.
FAO's food price index, which measures monthly changes for a basket of cereals, oilseeds, dairy products, meat and sugar, averaged 173.0 points last month from an upwardly revised 173.5 points in May. That figure was previously given as 172.4.