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World Food Prices Fall For Fifth Month

food sacks

World food prices continued to fall for a fifth straight month in November, however the index is still higher than past years.

The United Nation's Food and Agriculture Organization studied 55 food items, including grain, sugar, dairy, meat and edible oils.

The index fell one point from October at an average of 215 points.

Sugar declined after good harvests in areas like India and the Russian Federation, while cereals climbed amid a drought in Ukraine affecting grain harvests.

Signs the food prices may be "bottoming out" include a high surplus for many food items.

A tumultuous economic environment across Europe and a strong U.S. dollar have driven down prices, the organization says.

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