Global food prices in May fell to their lowest since September 2009 with declines in cereals, dairy and meat products outweighing slight increases in oils and sugar, Reuters quoted the United Nations' food agency as saying on Thursday. The Food and Agriculture Organization's (FAO) food price index, which measures monthly changes for a basket of cereals, oilseeds, dairy, meat and sugar, averaged 166.8 points in May, down 2.4 points or 1.4 percent from April, and down 46 points or 22.4 percent from a year earlier. High global production, a strong U.S. dollar and cheaper crude oil have pressured food prices over the past year, with the index declining since April 2014. Oil and sugar prices bucked the trend. Palm oil rose on concerns about the possible effects of the El Nino weather pattern in Southeast Asia, and soy oil firmed on higher demand, particularly in China, the FAO said.
