World food prices dip in May, UN's FAO says
PARIS, France - Global food commodity prices declined in May, driven by marked drops in cereal, sugar, and vegetable oil prices, the United Nations' Food and Agriculture Organization said on Friday.
The FAO Food Price Index, which tracks monthly changes in a basket of internationally traded food commodities, averaged 127.7 points in May, reflecting a 0.8% decrease from the April figure.
In a separate report, the FAO forecast record global cereal production of 2.911 billion tons in 2025, up from 2.848 in its previous estimate. — Reuters
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