FAO Food Price Index Ends Year With Sharp Decline
January 12, 2012 – ROME, Italy – Food prices fell in December 2011 driven by sharp declines in international prices of cereals, sugar and oils due to bumper 2011 crops coupled with slowing demand and a stronger US dollar.
Although prices dropped steadily in the second half of 2011, the FAO Food Price Index averaged 228 points in 2011 – the highest average since FAO started measuring international food prices in 1990.
For more information, read the full article from the FAO Media Center.