The FAO price index has decreased by 1% for the first time in the last four months in February 2020.
The index included 180 points.
The coronavirus-caused expectations were the reason for the reduced demand across the world.
The milk and milk products' price index has increased by 4.6% that is caused by the raw milk deficit in Australia.
The sugar price index increased by 4.5% compared to January 2020.
The coronavirus-caused expectations and decreased demand of India for the vegetable oil caused the 10% drop in prices on the vegetable oil in February.
The FAO corn prices dropped by 0.9%. Wheat showed the lowest price in February.
The meat price indices decreased by 2% in February.
Notably, the FAO price index shows the change of international prices on five products of consumer basket: milk, corn, vegetable oil, sugar, and meat.
Bela Gelashvili
News Author