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FAO: Global food prices show signs of stabilization
07.11.2014 08:02 "Agro Perspectiva" (Kyiv) —
World food prices stabilized in October, UN Radio says referring to the UN Food and Agriculture Organization (FAO) monthly report.
As to the report, the FAOs Food Price Index recorded its seventh consecutive monthly decline as the agency raised its forecast for a record global wheat output this growing season.
The ongoing slight decline in the index has been described by FAO senior economist, Concepción Calpe as «very good» for food importing countries.
Meanwhile, FAOs monthly Cereal Supply and Demand Brief, which was also released on Thursday, trimmed back the agencys forecast for 2014 world cereal production by about one million tonnes.
It says the full-year production figure of 2.5 billion tonnes would be 3.7 million tonnes below the record output in 2013.
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