ROME, April 4 (Xinhua) -- Global prices for grains and cereals fell in March, as concerns over the impacts of crop conditions subsided and global demand was relaxed, the United Nations Food and Agriculture Organization (FAO) reported Friday.
The decrease in prices for grains and cereals, the largest component in FAO's broad Food Price Index, was enough to compensate for mild increases in prices for vegetable oil and meat, said the FAO. Though the overall index was nearly unchanged compared to February, it was still nearly 21 percent below its all-time peak recorded three years earlier, when the start of the conflict between Russia and Ukraine sent food prices to record highs.
FAO said wheat prices were 2.6 percent lower in March due to moderated worries over the impacts of severe weather last year and Turkey's suspension of its import quotas, compensating for lower output from Russia and uncertainty about market conditions going forward.
Corn prices benefited from improved crop conditions in Brazil and a reduction in demand in Asia. Lower demand also helped reduce global prices for rice, FAO said.
Sugar prices were lower as well, falling 1.4 percent, also based on improved conditions in Brazil, where a recent dry weather spell ended with a period of rainfall across agricultural areas.
Meat prices also increased, though by just 0.9 percent, pushed largely by higher global demand.
In contrast to the volatility in other sub-indexes, prices for dairy products were unchanged, though they remained nearly 20 percent above their levels from the same time last year. ■
