FAO reported that its Food Price Index fell 2.4 points in June, the first dip since the start of 2018, attributed largely to growing trade conflicts. With both corn and wheat weaker, the Cereal Index fell 6.4 points in June. The Vegetable Oil Index fell 4.5 points to a 29-month low.
The Sugar Price Index, however, rose 2.1 points in June, ending a six-month slide on weather concerns and the potential of further declines in Brazil’s output this season.
Compared to a year ago, the Food Price Index is down 0.9 percent. The change for the index components is: Meat, down 3.3 percent; Dairy, up 2.2 percent; Cereals, up 7.7 percent; Oils, down 9.9 percent; Sugar, down 10.1 percent.
Select price indexes, annual history