Thomson Reuters Foundation

Inform - Connect - Empower

Cereal crop prospects for 2013 excellent but stocks tight-FAO

Source: Thomson Reuters Foundation - Thu, 7 Feb 2013 09:58 GMT
Author: Reuters
Tweet Recommend Google + LinkedIn Email Print
Leave us a comment

ROME, Feb 7 (Reuters) - Global cereals crops are expected to be excellent in 2013 unless weather turns very bad, but stocks are tight and climate-related shocks could cause prices to spike up violently, a senior economist at the U.N.'s Food agency said on Thursday.

"We should be expecting excellent crops in 2013 which could weigh heavily on prices," said Abdolreza Abbassian, a senior economist at the Food and Agriculture Organisation (FAO).

"But the weather could turn negative, and because we are in a tight situation, prices could react violently and rise," he said.

(Reporting By Catherine Hornby)

We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of the Thomson Reuters Foundation. For more information see our Acceptable Use Policy.

comments powered by Disqus