World food prices stabilise at high levels - FAO

MILAN Thu Dec 8, 2011 4:11pm IST

A man walks past a grocery store in downtown Sofia November 14, 2011. REUTERS/Stoyan Nenov

A man walks past a grocery store in downtown Sofia November 14, 2011.

Credit: Reuters/Stoyan Nenov

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MILAN (Reuters) - Global food prices have been stabilising at high levels and there is still risk that prices can rise, a senior economist at the United Nations food agency said on Thursday after the UN's food prices index showed a new monthly decline in November.

"I'd rather say it is a slowdown in decline ... It is more stabilising at high levels than a downturn," Abdolreza Abbassian, senior economist at the UN's Food and Agriculture Organisation FAO.L told Reuters in a telephone interview.

"The upside risk is still there," Abbassian added.

Global grain stocks were at comfortable levels this season, but next season's situation remained rather uncertain and would depend on a balance between demand and new output, he said.

(Reporting by Svetlana Kovalyova; editing by Keiron Henderson)

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