From WATTAgNet:

Global food prices fell another 1 percent to the lowest in four and a half years, the U.N. Food and Agriculture Organization (FAO) reported.

The FAO price index averaged 179.4 points in February, which is 1.8 points lower than the January reading.

High global production, low crude oil prices and limited demand from major importers have helped keep food prices low.

Key figures:

The FAO Cereal Price Index averaged 171.7 points in February, down 5.6 points (3.2 percent) from January. Prices of wheat, coarse grains and rice were all lower, but the decline was most pronounced for wheat.

The FAO Meat Price Index averaged 187.4 points in February, down 2.8 points (1.4 percent) from its revised January value. The reduction was caused by lower bovine and ovine meat quotations, while poultry meat prices were unchanged and those of pig meat  recovered after eight straight months of decline.

The FAO Dairy Price Index averaged 181.8 points in February, up 8 points (4.6 percent) from its January value – representing its first gain since February last year. 

The FAO Vegetable Oil Price Index averaged 156.6 points in February, up slightly (0.4 percent) from January.

The FAO Sugar Price Index averaged 207.1 points in February, down 10.6 points (4.9 percent) from January.