Facts for Prelims (FFP)
Source: The Print
Context: The United Nations Food and Agriculture Organization (FAO) reported that the world food price index fell to a new two-year low recently.
- This decline reversed a previous month’s rebound, with most food commodities experiencing decreases, although rice and sugar prices
FPI, released by the Food and Agriculture Organization (FAO) is a measure of the monthly change in international prices of a basket of food commodities.
It consists of the average of five commodity group price indices – cereals, oilseeds, dairy products, meat and sugar, weighted with the average export shares of each of the groups.