The FAO Food Price Index averaged 213 points in August 2012, unchanged from July. Presenting the Index at a press conference at FAO headquarters in Rome, Director-General José Graziano da Silva said “This is reassuring. Although we should remain vigilant, current prices do not justify talk of a world food crisis. But the international community can and should move to calm markets further,” he added. The FAO Food Price Index spiked six percent in July after three months of decline. The new Index showed international prices of cereals and oils and fats changed little in August but sugar prices fell sharply, compensating for rising meat and dairy prices. Although still high, the FAO Index currently stands 25 points below its peak of 238 points in February 2011 and 18 points below its August 2011 level. The FAO Food Price Index is a measure of the monthly change in international prices of a basket of food commodities.
Source: FAO Media Centre