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FAO: July Global Food Prices Down

The U-N's Food and Agriculture Organisation says global food prices were lower in July.

The FAO's Food Price Index was almost one per cent below June and 1 point 4 per cent below July of 2015.

According to the FAO, lower grains and vegetable oils prices more than offset stronger dairy, meat and sugar prices.

The Cereal Price Index was down 5 point 6 per cent from June - the Vegetable Oil Price Index down 2 point 8 per cent.

The Dairy Price Index was up 3 point 2 per cent, the Meat Price Index up by 1 point 3 per cent and the Sugar Price Index up 1 per cent from June.

The FAO points out that while the Dairy Price Index was up in July, those prices remain very low compared to recent years.

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