Global food prices in April 2012 ease – FAO

World food prices fell 1.4% from March to April 2012 after three consecutive months of increases, the UN food agency said today May 3, 2012.

But the prices seem to have stabilized at a relatively high level of 214 points in April 2012, according to the Food and Agriculture Organisation (FAO)’s Food Price Index.

Food prices in March 2012 recorded an average of 216 points.

“The fall was the first after three consecutive months of increases and although the index is significantly down from its record level of 235 points in April 2011, it is still well above the figures of under 200 which preceded the 2008 food crisis,” it said.

The index noted there will be a generally improved supplies and continuing strong demand of foodstuffs during the second half of the year 2012.

Consequently the global food import bill in 2012 could decline to $1.24 trillion, down slightly from last year’s record of $1.29 trillion, the agency’s Food Outlook said.

By Ekow Quandzie