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World food prices edge down in November - UN FAO
ROME, Dec 7 (Reuters) - World food prices fell fractionally
in November from the month before, as a sharp rise in sugar and
vegetable oil values was largely offset by a fall in dairy, the
United Nations food agency said on Thursday.
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 175.8 points
in November, down 0.5 percent from October.
Food prices on international markets were 2.3 percent higher
than last November.
Agricultural commodities have emerged from a highly volatile
period and FAO has said it expects them to remain stable over
the next decade.
FAO raised its forecast for global cereals output in 2017 to
2.627 billion tonnes, 16.8 million tonnes higher than last
year's level and pushing worldwide supplies to an all-time high.
The agency also raised its forecast for global wheat
production to 754.8 million tonnes, 1 percent lower than 2016.
(Reporting by Isla Binnie; editing by Philip Pullella)
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