The cost of food on the world market in us dollars dropped to almost a five-year minimum due to the growth rate of the US currency and favorable harvest forecasts to 2015. This is stated in the report of the Food and agriculture organization of the United Nations (FAO).

So, the food price index FAO in February 2015 fell to 179,4 point - the lowest level for the last 55 months. This index also declined by 1% compared with January, and by 14% in comparison with February of 2014, the report says.

The fall in the index to its lowest level since July 2010 reflects a stable level of supply, as well as the weakness of many currencies against the dollar and the expectation of a further fall in the currency, said the analyst FAO dairy and meat markets Michael Griffin. "It should be noted favorable forecasts for the production of some agricultural crops in 2015. Stocks are at a high level, "he continued.

The cereal price index in February decreased by 3.2% relative to the January level to 171,7 point. "Most dropped the price of wheat, because the harvest 2015 constantly improving on the background of large global reserves", - explained in the document.

The sugar price index in February fell by 4.9% to 207,1 point. Pressure on the price of sugar had a good crop in Brazil (the largest producer and exporter of sugar in the world). "The drop in prices of sugar on the world markets contributed to the Declaration of India on the granting of export subsidies to increase sales abroad," says the report.

The index of the FAO meat price in February fell by 1.4% to 187,4 points compared with the revised January value. Growth rate and large amounts of supply has led to a decline in export quotations of beef in Australia. FAO, for the same reasons expects lower prices for beef in Brazil. "At the same time, the announcement of the beginning of the provision of EU financial assistance to private storage companies caused the Euro export prices for pork", - the report says.

The price index for dairy products increased by 4.6% to 181.8 points compared to January. The FAO called rising prices for dairy products sudden and explain his drought in New Zealand and restriction of export supplies from Australia.

The price index of vegetable oil increased slightly (by 0.4%) to the point of 156.6 against January. The reason for the growth of the FAO calls higher prices for palm oil due to falling production in Malaysia in connection with the floods. The food and agriculture organization also predicts a sharp increase in the consumption of this product in Indonesia in connection with the increase of subsidies to domestic producers of biodiesel. At the same time, rising prices for vegetable oils in the world in February kept falling prices for soybean oil under the influence of a large export supply and expectations for a record soybean crop in Latin America.