FAO food price index at its lowest level in nearly six years

The FAO index of food prices averaged 164.6 points in July 2015, down 1% compared to June of the same year, and 19.4% below the level a year ago. Weighted on trade, this index is calculated based on international prices of five main groups of basic food products: grains, meat, dairy products, vegetable oils, and sugar. In July, the index for dairy products fell by 7.2% compared to its level the previous month, mainly due to the decline in imports from China, the Middle East and North Africa face a oversupply due to oversupply due to abundant