Global: FAO report says global food prices fall

A report by the Food and Agriculture Organisation (FAO) said Thursday that international prices of key food staples dropped in the first five months of this year. The report stated that the development was driven largely by plummeting prices of cereals and sugar. It said: "The FAO Food Price Index' the average of commodity prices, including meat and dairy, averaged 164 points in May, down from 174 in January and subst antially less than its peak of 214, reached in the spring of 2008."