Tuesday, October 11, 2011

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FAO Sees Tight Grain Stocks in 2011/2012

New York--Despite improved production prospects, world cereal markets are likely to remain fairly tight in 2011/2012, according to the United Nations Food and Agriculture Organization’s quarterly Crop Prospects and Food Situation report just released.

The overall year-on-year increase includes a 4.6 percent (30 million metric ton) rise in global wheat production, a 3 percent (14 million metric ton) rise in the rice harvest and a 2.1 percent (24 million metric ton) hike for coarse grains.

Despite the expected production gains, the report warns that because of the slowdown in the global economic recovery and increased risks of recession, there is uncertainty regarding the impact on world food security. Worsening economic conditions could result in higher unemployment and lower incomes for the vulnerable and needy in the developing countries.

United Nations Food and Agriculture Organization news release

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