Uptrend continues in food price index


October saw a decline in global meat prices due to slackening import demand from China, bucking an upward trend in food prices overall, according to an index compiled by the UN Food and Agriculture Organization. The FAO Meat Price Index fell 1% in October from September, dragged down by excess domestic supplies in the EU and a decline in EU export prices for pork as demand from China slowed, the organization said.

The decrease was further linked to declining beef export prices in the Asia Pacific region as higher domestic production in the US eliminated the need for external supplies. The Food Price Index has climbed continuously since the start of the year except for a dip in July.


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