Figure 1
From: Information and output in agricultural markets: the role of market transparency
FAO real food price indices. The FAO real food price index consists of the average of 5 commodity group (meat, dairy, cereals, oil, sugar) price indices weighted with the average export shares of each of the groups for 2002-2004. The cereals price index is compiled using the grains and rice price indices weighted by their average trade share 2002-2004. The Grains Price Index consists of International Grains Council (IGC) wheat price index and 1 maize export quotation. The Rice Price Index consists of 3 components containing average prices of 16 rice quotations: the components are Indica, Japonica and Aromatic rice varieties and the weights for combining the three components are assumed (fixed) trade shares of the three varieties.