Prices for the main groups of goods showed a noticeable decline, especially for dairy products and sugar, dt.ua reported.
The food price index of FAO (Food and Agriculture Organization of the United Nations) declined by 3.7% compared to June indicator and amounted to 168.8 points, which is the sharpest monthly decline in the index since the end of last year. The index grew steadily in 2018 until June.
The index of prices for dairy products FAO had the greatest impact on the decline in the overall indicator, having fallen by 6.6% compared to the previous month.
The FAO sugar price index fell by 6% to almost a three-year minimum. The FAO crop price index fell by 3.6% compared to June and is now below the same level a year ago.
The FAO vegetable oil price index has been falling over the past six months, falling by an additional 2.9% in July compared to June, and is now at the lowest level since January 2016. Partly the July recession was due to the weakening of prices in the soybean market, which was the result of trade disagreements between China and the United States.
The FAO meat price index fell by 1.9% compared to the June figure.
The FAO Food Price Index is a weighted average indicator that tracks the dynamics of international prices for the five major food commodity groups.