World food prices decline modestly in July: FAO

ROME, Aug. 2 (Xinhua) -- Global prices for grains and cereals dropped sharply in July, mitigating the impact of rising prices for vegetable oil, meat, and sugar, according to a report issued Friday by the United Nations Food and Agriculture Organization (FAO).

The sub-index for grains and cereals declined by 3.8 percent in July, compared with the May index. However, compared to the previous year, the cereal pric