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FAO chief backs French strategic grain stocks plan
September 17, 2012 / 2:27 PM / 5 years ago

FAO chief backs French strategic grain stocks plan

PARIS, Sept 17 (Reuters) - The United Nation’s Food and Agriculture Organisation “fully supports” a call by France to develop strategic grain stocks to counter price volatility, the agency’s head said on Monday after a meeting with French President Francois Hollande.

The FAO expects current high prices on grain markets, which surged after drought damage to crops in the United States and Russia, to encourage countries to raise production, FAO Director-General Jose Graziano da Silva told reporters, adding he does not expect heavy demand for grain in the next month. (Reporting By Julien Ponthus; Writing by Gus Trompiz)

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