ISTANBUL, January 8 () - Global food prices fell by 3.7 percent in 2014, according to the Food Price Index of the Food and Agriculture Organization (FAO) of the United Nations, released by the FAO on Thursday.

The FAO Food Price Index averaged 188.6 points in December 2014, down 3.2 points or 1.7 percent from November.

The Index, which had been in a downward trend between March and September, remained fairly stable in October and November, before falling again in December.

Over the full year, the Index averaged 202 points, down 3.7 percent from 2013, with the sharpest year-on-year falls registered by cereals with 12.5 percent, followed by dairy products with 7.7 percent, vegetable oils with 6.2 percent and sugar with 3.8 percent.

Only the FAO Meat Price Index recorded an increase in the year 2014, advancing by 8.1 percent compared to 2013.