World food prices ease for second month running in July - U.N. FAO

World food prices eased for a second month running in July after five consecutive monthly gains, pushed down by falls in the prices of some cereals, dairy products and sugar, the United Nations food agency said on Thursday. The Food and Agriculture Organization (FAO) food price index, which measures monthly changes for a basket of cereals, oilseeds, dairy products, meat and sugar, averaged 170.9 points last month from a downwardly revised 172.7 points in June.

That figure was previously given as 173.0. FAO did not update its forecast for world cereal production on Thursday. The next estimate will come on Sept 5.