Baku. 11 January. REPORT.AZ/ Global food prices have declined in December 2017. Report informs citing the Bloomberg, FAO Food Price Index said.
The Food and Agriculture Organization’s (FAO) food price index, which measures monthly changes for a basket of cereals, oilseeds, dairy products, meat and sugar, averaged 169.8 points in December, down 3.3 percent from November.
Notably, in 2017 the index averaged 174.6 points, up 8.2 percent from 2016, reaching its highest annual value since 2014 although food on international markets was still 24 percent cheaper than in 2011.