July 5, 2018 / 8:19 AM / 3 months ago

World food prices fall 1.3 percent in June: U.N. FAO

ROME (Reuters) - World food prices fell in June from the month before, led by decreases in maize and wheat quotations, the United Nations food agency said on Thursday.

FILE PHOTO: A woman looks at an item as she shops at a food superstore in Ahmedabad, India October 13, 2016. REUTERS/Amit Dave/File Photo

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 173.7 points last month, down 1.3 percent from May.

“Most markets have generally taken-on a weaker tone recently largely because of rising tensions in international trade relations,” FAO said in a statement.

FAO said global cereals output in 2018 was seen at 2.586 billion tonnes, down 64.5 million tonnes, or 2.4 percent, from 2017’s record production level.

“The year-on-year decrease mostly reflects anticipated reduced maize output,” FAO said.

Reporting by Steve Scherer; Editing by Crispian Balmer

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