World food prices in March 2012 remained virtually unchanged from the February levels, according to the latest Food and Agriculture Organisation (FAO) Food Price Index.

“The Index averaged 216 points in March, compared to 215 in February,” said the UN food agency as oils prices showed strength while dairy prices fell.

According to the FAO, the Cereal Price Index averaged 227 points in March, up 1 point from February while its Oils/Fats Price index rose to 245 points, up 6 points or 2.5% from February.

For the Meat Price Index, the agency said it averaged 178 points in March, up marginally from the previous month.

The FAO Dairy Price Index averaged 197 points in March, down 5 points or 2.5% from February and registered the lowest level since August 2010.

Prices of sugar averaged 342 points in March, and remained unchanged from February but were 30 points or 8% lower than in March 2011.

By Ekow Quandzie

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