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