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Sugar drags global food index lower

This article was originally published in The Public Ledger

THE FAO index of global food prices dipped in November to average 215 points, down one point from October, the UN Food and Agriculture Organisation (FAO) said. A decline in sugar offset a recovery of vegetable oils prices, the FAO said. The FAO cut its 2011 world cereals output to 2.323bn tonnes from a previous forecast of 2.325bn tonnes, but confirmed it was still a record.

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