Food Prices at Four-Year Low

World food prices have fallen to a four-year low.  In August the Food and Agriculture Organisation (FAO) Food Price Index dropped to its lowest since September 2010.  Following five consecutive months of a falling index, prices fell by 3.6% in August alone.  The dairy and vegetable oil index saw the greatest falls, by 11.2% and 8% respectively over just one month.  Ample supplies of soy, rape and sunflower have seen vegetable oil values decline to their lowest level since the end of 2009.  The meat price index was the only category to see prices increase (by 1.2% in August) this reflects the strong Australian beef price and increased demand from Asia.  UK food price figures have also been published by the Office for National Statistics.  Prices have fallen by 1.1% over the past year, the largest decline seen for 10 years.