Global food prices dip in October as dairy, cereals and meat get cheaper

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Global food prices declined in October, driven mainly by lower costs for dairy, cereals and meat. The FAO Cereal Price Index recorded a notable fall, which was linked to strong production outlooks and softer demand. Sugar prices moved in the opposite direction, rising after unfavorable weather affected sugarcane in Brazil. Vegetable oil prices edged up slightly amid volatile conditions in the oil market.

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