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UN urges to stop rise of food prices

25 September 2010 08:14 (UTC +04:00)

Baku. Vahab Rzayev â€“ APA-Economics. UN Food and Agriculture Organization held a special meeting in Rome, Italy to discuss high food prices.
According to APA-Economics, experts from more than 75 countries said not only a grain export ban by Russia, but also commodity exchange speculations and policy of some countries caused a rise of food prices in the world.
Delegates at the meeting had reached an agreement "that this situation is not a food crisis," but they have to learn reasons of high food prices.
The Food and Agriculture Organization’s quarterly assessment of grains and rice said that, if optimistic crop forecasts hold, this year’s cereal production, bolstered by carry-over stock from last season, should be adequate to cover the world’s projected needs for 2010/2011.
The Food and Agriculture Organization said the latest forecast for world cereal stocks in 2011 has been revised upward to nearly 184 million tons, 3 million tons more than previously anticipated, but still down from 9 percent from their 8-year high opening level.