PARIS, Dec 2 Reuters The United Nations food agency39;s world price index fell marginally in November, marking an eighth straight monthly fall since a record high in March after Russia39;s invasion of Ukraine.

The Food and Agriculture Organization39;s FAO price index, which tracks the most globally traded food commodities, averaged 135.7 points last month, down from 135.9 for October, the agency said on Friday.

The October figure was unchanged from the FAO39;s previous estimate.

Lower readings for cereals, meat and dairy products in November offset higher prices for vegetable oils and sugar, the FAO said.

Last month39;s agreement to prolong a U.N.backed grain export channel from Ukraine for another 120 days has tempered worries about war disruption to massive Black Sea trade.

The slight decrease in November meant that the FAO food index is now only 0.3 above its level a year earlier, the agency said.

The indicator, however, remains at historically high levels after reaching a 10year peak in 2021 owing to harvest setbacks and brisk demand led by China.

The FAO warned last month that expected record food import costs in 2022 would lead the poorest countries to cut back on shipped volumes.

In separate cereal supply and demand estimates, the FAO lowered its forecast for global cereal production in 2022 to 2.756 billion tonnes from 2.764 billion estimated last month.

The forecast was 2 below the estimated output for 2021 and would mark a threeyear low, the FAO said….