Global Food Prices Declined in June. The Relief Is Already Conditional.
The numbers moved in the right direction. The conditions that produced them are not durable, and the forecasters saying so are the same ones who just reported the improvement. The United Nations Food and Agriculture Organization released its June food price index showing a broad-based decline in global food commodity prices last month. Cereal prices dropped 3.5% month-over-month. Dairy prices fell 1.5%. Sugar prices were down 5.7%….
