Oil prices fell to their lowest level because of the decline in global food prices
BAGHDAD / Sky Press: detect economic report, the Sabbath, that the decline in oil prices will reflect positively for the first time producers and consumers at the same time, so that the global food prices took to retreat to lower levels, and thus open the way for an easing of pressures on the budgets of states and family budgets accordingly . According to the weekly report issued by the UAE's Crescent Petroleum Company, that "oil prices are one of the most influential factor in the benchmark cost of living around the world because of what constitutes interference to the majority of goods and services required and the prices have traded all markets." He said. "Drop in oil prices and improved production recorded high levels of food stocks in addition to the effects of high dollar value recorded directly in food prices on the decline on a global level."
He explained that "global food prices recorded declines year after year and to varying degrees, where Ankgdt global food prices by 14% since August last year and even the current Oaaram according to World Bank data."
He pointed out that "low oil prices lead to reduced food production costs through its impact on production input prices and transportation costs, while gonna fall in oil prices to reduce the pressure on bio-fuels and thus the demand for food commodities, agricultural land, also contributes to the decline in oil prices improve global demand as a whole and on food in particular. "
He continued that "the decline in global food prices will be a good indicator of the growth rates of the global economy and if so what was accompanied with the arrival of oil prices to fair levels for producers and consumers, First Second Third and the global economy."
And oil prices are currently experiencing their lowest level in seven years since landing continued for more than a year and by more than 50% of the price levels that prevailed at the time, to trade at $ 50 after it was at $ 115 a barrel in July 2014.

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