Global Rice Prices Hit Two-Year Low: FAO

Global food prices fell in July with international rice prices hitting a two-year low, the Food and Agriculture Organisation of the United Nations (FAO) said Thursday.

In a statement released in Rome, the UN agency said the FAO Food Price Index averaged 123 points last month — down 1.2 percent from June but up 31.0 percent from July last year.

The FAO Cereal Price Index — which includes prices for rice, wheat and corn — was down 3.0 percent from June.

“International rice prices hit two-year lows, impacted by currency movements and a slow pace of sales caused by high freight costs and logistical hurdles,” the FAO said.



Source: Agency Kampuchea Press