AlQa'dah 26, 1436, Sep 10, 2015, SPA-- The Food and Agriculture Organization (FAO) said Thursday that the price of international food commodities recorded their largest monthly drop in seven years last month, a slide likely to further hurt the struggling farming sector. The FAO reported that the prices of almost all commodities measured in its Food Price Index fell in August, including milk, vegetable oils, sugar, and cereals. "Ample supplies, a slump in energy prices and concerns over China's economic slowdown all contributed to the sharpest fall of the FAO Food Price Index in almost seven years," the U.N. agency said in a statement. The index averaged 155.7 in August, down 5.2 percent from July, "the steepest monthly drop since December 2008, with virtually all major food commodities registering marked dips," the agency said. The index now is at its lowest since June 2010. The FAO is forecasting increased production of cereal, coarse grains, wheat, and rice for 2015, which is likely to further push down prices.
