World food prices to remain high

  • 08/06/2011

  • Business Standard (New Delhi)

FAO forecast of generally tight situation for most crops and commodities over next 18 months. Consumers are unlikely to get relief from high food prices till December 2012, despite a modest increase in global foodgrain production. High and volatile agricultural commodity prices are likely to prevail for the rest of this year and into 2012, says a report of the Food and Agriculture Organisation of the United Nations. The next few months would determine how the major crops fare. Although prospects are encouraging in some countries such as the Russian Federation and Ukraine, weather conditions, featuring too little and in some cases too much rain, could hamper maize and wheat yields in Europe and North America.