F.A.O. predicts increased cereal production
February 13, 2008
by FoodBusinessNews.net Staff
ROME — The Food and Agriculture Organization of the United Nations said there is a possibility of a significant increase in world cereal production in 2008, but international prices of most cereals still remain at high levels and some are increasing even more.
The forecast results from an expansion of winter grain plantings and good weather among major producers in Europe and the United States, the F.A.O. said in its latest Crop Prospects and Food Situation report.
International wheat prices in January were up 83% from the previous year as the result of decreased stocks but continuing strong demand for cereals. World cereal trading is expected to peak in 2007-2008 as the result of a rise in demand for coarse grains.
Various governments from cereal importing and exporting countries have implemented actions such as lowering import tariffs, raising food subsidies and banning or imposing duties on food exports in an effort to decrease the impact of rising cereal prices on domestic food consumption.
"High food prices and market uncertainties have become major global concerns, and wide access to up-to-date information and analysis is becoming critical," said Henri Josserand with F.A.O’s Global Information and Early Warning system.
To address this need for information, F.A.O. is launching a new web portal that brings together relevant studies and data on the world food situation.