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World food prices stabilise at high levels - FAO
December 8, 2011 / 10:43 AM / 6 years ago

World food prices stabilise at high levels - FAO

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.

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

“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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