Global Food Prices Slightly Lower in July

The latest Food Price Index shows a slight decrease in global food prices in July.  Compiled by the United Nations’ Food and Agriculture Organization, the index dipped .08% last month to a reading of 161.9.  The modest decline in July followed five consecutive monthly increases, and was largely caused by drops in international prices of grains and vegetable oils, more than offsetting firmer dairy, meat and sugar prices.

Average prices for cereal grains fell 2.8% for the month, and vegetable oil prices were down the same.  However, dairy priced increased by 3.2 percent on average, and meat prices climbed 1.3% from June.  Sugar prices increased 1% from the previous month.

If you have a story idea for the Washington Ag Network, call (509) 547-1618, or e-mail gvaagen@cherrycreekradio.com