Global Food Prices Fall Slightly, But Remain Significantly High

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By Janeen Madan

Today, the U.N. Food and Agriculture Organization released its Food Price Index for March, showing that prices have fallen for the first time in eight months. The index measures the average monthly price change for basic food items, including cereals, dairy, meat, oil, and sugar.

UN_Food and Agriculture Organization_Food Price Index_food prices_cereals

Global food prices fall slightly, but remain significantly higher than last year. (Photo credit: Bernard Pollack)

While prices are down 2.9 percent since record levels in February, cereal prices are still 60 percent higher than they were in March 2010. “The decrease in the overall index this month brings some welcome respite from the steady increases seen over the last eight months. But it would be premature to conclude that this is a reversal of the upward trend,” said David Hallam, Director of the Trade and Market Division at FAO.

High food prices continue to threaten millions of livelihoods especially in poor, import-dependent countries—like those in sub-Saharan Africa—where households spend up to 80 percent of their income on food.

To learn more about high food prices, see: Soaring Food Prices Raise Global Security Concerns, Food Riots Return as Global Food Prices Reach Record High, Beyond the Price of Food: Putting Food Security Into Farmers’ Hands, and Food Prices Projected to Rise in the Next Decade.

Janeen Madan is a Communications Associate with the Nourishing the Planet project.

To purchase State of the World 2011: Innovations that Nourish the Planet please click HERE. And to watch the one minute book trailer, click HERE.

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