Food Prices to Stay High, Says U.N. |
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June 7, 2011
Drought in some areas and heavy rain in others are keeping world food prices near record levels, threatening the food supply for poorer, food-importing countries, the United Nations' food body said Tuesday.
Drought in some areas and heavy rain in others are keeping world food prices near record levels, threatening the food supply for poorer, food-importing countries, the United Nations' food body said Tuesday. The Food and Agriculture Organization forecast in its biannual report that world cereal output would rise 3.5% to a record 2.3 billion metric tons in 2011—but warned that this might not be enough to replenish scarce world stocks and calm the recent turbulence in world food markets. The FAO's food index, a measure of food prices, averaged 232 points in May, 37% above its level the same time a year earlier. While the index was down slightly from a revised figure of 235 points in April, it was still only six points off the record hit in February.
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