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According to the UN Food and Agriculture Organization (FAO), increases in grain prices outweighed declines in other commodities, keeping global food costs flat in October.

At 135.9, a 9-month low, the FAO food price index was essentially unaltered in October. The number was 2 percent greater than it was a year ago.

The index tracks monthly changes in the prices of five key food commodity groups: sugar, dairy products, meat, cereal, and meat products.

The Black Sea Grain Initiative between Turkey, the UN, Russia, and Ukraine as well as a downward revision for supplies in the US caused wheat prices to increase, driving up the cereal price index by 3% from September.

The lower global prices of palm, soy, and rapeseed oils drove the vegetable oil price index down by 1.6 percent in October compared to a month earlier, more than offsetting increased sunflower seed oil quotations.

Improved supply prospects in India helped the FAO sugar price index declined 0.6 percent month over month.

The FAO dairy price index fell for the fourth consecutive month, down 1.7 percent from September.

The meat price index decreased by 1.4 percent from the previous month, with decreases in world prices for all categories of meat due to generally weaker global import demand and rising exportable supplies.

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