UN: Food prices stabilising at high levels
Fin24 - Dec 9th 2011, 08:19
Milan - Global food prices have been stabilising at high levels and there is still risk that prices can rise, a senior economist at the United Nations food agency said on Thursday after the UN’s food prices index showed a new monthly decline in November.
“I’d rather say it is a slowdown in decline... It is more stabilising at high levels than a downturn,” Abdolreza Abbassian, senior economist at the UN’s Food and Agriculture Organisation (FAO), told Reuters in a telephone interview.
“The upside risk is still there,” Abbassian said.
Global grain stocks were at comfortable levels this season, but next season’s situation remained rather uncertain and would depend on a balance between demand and new output, he said.
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