Global food prices have been stabilizing 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 stabilizing at high levels than a downturn,” Abdolreza Abbassian, senior economist at the UN’s Food and Agriculture Organization (FAO) told Reuters in a telephone interview.
“The upside risk is still there,” Mr. 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.
Follow us on Twitter: