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Global food prices fell by 14.5%

Мировые цены на продовольствие упали на 14,5%

In comparison with last year, global food prices fell by 14.5%, according to the Organization for Food and Agriculture of the UN (FAO). The main reason is the decline in oil prices – and therefore fuel costs and transportation.
The price of vegetable oil decreased by 11%, wheat prices by 15%. In January 2016 the price of sugar decreased by 6.2%, dairy products – by 2.1%. Even meat prices fell slightly.
FAO believes that the world grain harvest in 2016 will reach 723 million tons, 10 million tons less than the record crop of 2015. The UN analysts suggest that the yield reduction is unlikely to have a significant impact on the price dynamics.

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