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Global food prices drop, but remain relatively high: FAO report

05-04-2012 09:13 BJT

UNITED NATIONS, May 3 (Xinhua) -- The Food and Agriculture Organization (FAO) on Thursday reported that global food prices have dropped three points from March to April of this year, yet still remain relatively high level of 214 points, a UN spokesman told reporters here.

"According to FAO's Food Price Index, which measures monthly price changes for a food basket of cereals, oil seeds, dairy, meat and sugar, the fall was the first after three consecutive months of increases and although the index is significantly down from its record level of 235 points in April 2011, it is still well above the figures of under 200 which preceded the 2008 food crisis," Eduardo del Buey, the deputy UN spokesman, said at a daily news briefing here.

The index was contained in the latest FAO Food Outlook, a global market analysis which comes out twice a year.

The second half of this year will see generally improved supplies and continuing strong demand, said del Buey.

The FAO report projected that cereal production will post a modest expansion to 2,371 million tons in 2012, from 2,344 million tonnes in 2011. The output of meat, fish and dairy products will also expand, it said.

According to the report, the global food bill could decline this year to 1.24 trillion U.S. dollars from the record high of 1. 29 trillion U.S. dollars in 2011.

Editor:Wang Lingfei |Source: Xinhua

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