FAO Food Price Index finishes flat in January

by Editor fleischwirtschaft.com
Wednesday, February 13, 2013
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The Food and Agriculture Organization of the United Nations said the FAO Food Price Index was flat in January, finishing at 209.8 and ending three straight months of declines.

Increases in oils and fats prices offset lower cereals and sugar prices, while dairy and meat values remained mostly unchanged. The FAO Cereal Price Index was at 247.2 points in January, down 1.1%, or 2.9 points, from 250.1 points in December.

The Meat Price Index averaged 175.9 points, down 0.9 points from 176.8 points in December, as prices of all meat categories remained mostly flat. The FAO did note a slight weakening in poultry and pig meat prices.

"As a whole, the meat industry continues to be challenged by high feed prices and limited growth in consumption," the FAO said.

The Food Price Index consists of the average of five commodity group price indices weighted with the average export shares of each of the groups for 2002-04. In total, 55 commodity quotations considered by FAO commodity specialists as representing the international prices of the food commodities are included in the overall index.