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Global food prices declined for the second consecutive month in June, with the Food Price Index decreasing by 0.3% to 130.3 points. This decline was driven by falling prices of cereals, sugar, and dairy products, despite increased prices for vegetable oils and meats. Wheat prices dropped by 4.4% due to improved supply forecasts and higher harvests in the Black Sea region. Sugar prices fell by 5.7% as a result of declining ethanol prices and a weakened Brazilian real. Meanwhile, vegetable oil prices rose by 3.8% amid higher demand for palm oil and rapeseed oil. Meat prices experienced a slight increase supported by higher prices for poultry and lamb.
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