The FAO Food Price Index consists of the average of five commodity group price indices weighted with the average export shares of each of the groups (for 2002-04). It is composed of 55 commodity quotations and updated monthly.
The Cereals Price Index is compiled using the grains and rice price indices weighted by their average trade share for 2002-04. The grains price index consists of the IGC wheat price index and 1 maize export quotation. The rice price index is composed of the average prices of 16 rice quotations.
The Oils and Fats Price Index consists of an average of 12 different oils (including animal and fish oils) weighted with average export trade shares of each oil product for 2002-04.
The Sugar Price Index is an index form of the International Sugar Agreement prices with 2002-04 as base.
The Meat Price Index is computed from average prices of four types of meat, weighted by world average export trade shares for 2002-04. Quotations include two poultry products, three bovine meat products, three pig meat products, and one ovine meat product.
The Dairy Price Index consists of butter, skim and whole milk powder, cheese, and casein price quotations. The average is weighted by world average export trade shares for 2002-04.
The daily IGC Grains and Oilseeds Index is comprised of the AMIS commodities plus barley, sorghum, and rapeseed/canola. With January 2000 taken as its base, component weightings are based on their five-year average share of the total trade of all commodities considered. The sub-indices for wheat, maize, rice and soybeans are based on daily price quotations from several official and trade sources.