The November FAO Food Price Index nearly unchanged from October

The FAO Dairy Price Index averaged 201 points in November, down 1 percent ( 3 points) from October. The decline reflects a weakening of butter and cheese prices, which lost  6 percent and 2 percent respectively, while skim milk powder, whole milk powder and casein prices registered gains in the order of 2-3 percent. From January to October, dairy prices have consistently exceeded their corresponding monthly levels in 2010. However, in November, prices were about 3 percent lower than a year ago, amid a recovery of supplies in Oceania and South America.

The FAO Sugar Price Index averaged 340 points in November, down 6 percent (21 points) from October and 15 percent  (60 points) from its July 2011 peak. The decline largely reflects expectations of a large global production surplus over the next twelve months, on the back of good harvests in India, the EU, Thailand and the Russian Federation.