Good harvests and ample stockpiles continue to drive international food prices down – FAO

FAO – News Article: Good harvests and ample stockpiles continue to drive international food prices down.

 

Food markets are more stable and prices for most agricultural commodities are sharply lower than they have been in recent years, according to the latest edition of FAO’s biannual Food Outlook report and a new update to the Organization’s monthly Food Price Index, both out now. Bumper harvests and abundant stockpiles are key factors helping drive down international cereal prices, according to the report. World wheat production in 2014 is forecast to reach a new record, it says. While rice outputs could decline slightly this year, stockpiles remain “huge” and are sufficient to cover over one-third of projected consumption during the 2015-16 period. All told, world cereal production in 2014 is anticipated to reach 2 523 million tonnes (2.5 billion tonnes) — an upward revision of 65 million tonnes from FAO’s initial forecast in May. World cereal stocks should hit their highest level in 15 years by the end of the cropping season in 2015. Global output of oilseeds is also forecast to exceed last season’s record due to further expansion of soybean production…… pdf, 142 pages…. Read

 

 

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