Sugar products are seen on shelves at a large discount store in Seoul. (Newsis) Global food prices fell for a second straight month in June, as lower prices for cereals, dairy products and sugar more than offset gains in vegetable oils and meat, South Korea’s Agriculture Ministry said Saturday, citing data from the UN food agency.The Food and Agriculture Organization of the United Nations’ food price index stood at 130.3 last month, down 0.3 percent from 130.8 in May, according to the Ministry of Agriculture, Food and Rural Affairs.The index, which tracks monthly changes in international prices of major food commodities, uses average prices from 2014 to 2016 as a baseline of 100. It had risen for three consecutive months from February to April before turning downward in May.Cereals saw the sharpest drop among the major categories, with the index falling 3.5 percent from a month earlier to 110.2.Wheat prices declined 4.4 percent as harvest progress in the Black Sea region and expectations of ample global supplies outweighed concerns over crop conditions in the United States and Australia.Corn prices dropped 6.2 percent, reflecting improved supply conditions in major South American exporting countries and weaker demand from the biofuel sector amid lower crude oil prices. Barley and sorghum prices also fell, by 3.4 percent and 7.7 percent, respectively.Rice prices moved in the opposite direction, rising 3.2 percent on stronger Asian demand, weather uncertainty and higher production, transport and distribution costs.Dairy prices fell 1.5 percent to 117.4, pressured by improved raw milk supplies in the European Union and the US. Prices of skim milk powder, butter and cheese weakened, while sluggish import demand from China weighed on whole milk powder prices.Sugar prices posted the steepest monthly decline, falling 5.7 percent to 89.7. Lower ethanol prices in Brazil encouraged more sugar production and exports, though concerns over El Nino-related crop conditions in major producing countries limited the fall.Vegetable oil prices rose 3.8 percent to 192.0, led by palm oil and rapeseed oil.Palm oil prices gained on expectations of tighter exportable supplies from Indonesia, while rapeseed oil rose due to unfavorable planting weather in Australia and Canada. Soybean oil prices edged lower, weighed down by increased production in South America and weaker crude oil prices.Meat prices also inched up, rising 0.4 percent to 131.0.Poultry prices climbed due to temporary supply shortages in Brazil, while lamb prices continued to rise as demand remained steady despite limited export availability. Pork and beef prices fell, affected by increased supply from the EU and expectations of larger export volumes from Australia.In Korea, consumer prices of agricultural and livestock products rose 3.2 percent in June from a year earlier, matching the country’s overall inflation rate.The ministry said it would continue to monitor supply and demand conditions for key items and use available measures to stabilize agricultural and livestock markets, citing lingering uncertainties in global raw material prices.