The FAO Food Price Index in November was virtually unchanged from its October level. At the new level of 215 points, the Index was 23 points, or 10 percent, below its peak in February 2011 but remained two points, or one percent, above its level in November 2010.
The prices of cereals, one of the main commodity groups included in the Food Price Index, dropped by 3 points or 1 percent from October. The retreat was largely driven by wheat prices, which dropped 3 percent, while rice quotations fell only slightly and coarse grain prices remained virtually unchanged. Nevertheless, the cereals index remained 6 points higher than in November 2010.
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