FAO SEES IMPROVEMENT IN PRICES

The UN’s Food and Agriculture Organization and OECD said that an economic upturn and energy demand will lift farm prices in the next decade, but prices will fall short of peaks in 2007-2008. “Let’s say it’s now moving at a more cruising speed,” OECD secretary-general Angel Gurria said June 15. Prices of crop and livestock products, with the exception of pork, were all expected to rise in the coming decade compared with 1997-2006. Wheat and coarse grains were expected to be 15-40 per cent higher and vegetable oils up more than 40 per cent.

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