Food prices averaged at 179.4 points in February, down from 181.2 points in January and 208.6 points in February 2014, the Food and Agriculture Organization's price index showed.
FAO's Food Price Index is a trade-weighted index that tracks prices of five major food commodity groups on international markets. It aggregates price sub-indices of cereals, meat, dairy products, vegetable oils and sugar.

"Food Price Index declined to a 55-month low in February, dropping 1.0 percent from January and 14 percent below its level a year earlier," FAO said in a statement.
Food Price index at its lowest level since July 2010 reflects robust supply conditions as well as ongoing weakness in many currencies versus the US dollar, said Michael Griffin, FAO's dairy and livestock market expert.

"The first thing to flag is the favorable outlook for production of a number of crops in 2015," he said. "Stocks are also very strong" for most cereals, he added.
According to FAO, international sugar prices fell by 4.9 percent, cereal prices were down by 3.2 percent and meat prices declined by 1.4 percent in February from the January levels.
However, international prices of dairy products and vegetable oil increased by 4.6 percent and 0.4 percent in February from the January levels.

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