FAO food price index drops again in March

The FAO Food Price Index continued to decline in March, dropping 1.5 percent from February and 18.7 percent (40 points) below its level a year earlier.

A sharp fall in the price index for sugar - which reached its lowest level since February 2009 - together with dipping prices for vegetable oils, cereals and meat, more than offset a rise in dairy prices and contributed to the lower index, which in March averaged 173.8 points.

The FAO Meat Price Index averaged 177 points in March, down 1 percent from its revised February value, while the FAO Dairy Price Index rose in March for the second consecutive month to average 184.9 points, up 1.7 percent from February.