FAO / FOOD OUTLOOK

Citing dwindling stocks and only small production increases for the majority of crops, a new UN report released today says world food prices are likely to remain high for the rest of this year and into 2012. FILE

 

• Categories: News & Features / News Stories / Unifeed
• Video Length: 00:00:55
• Production Date: 7 June 2011
• Asset Language: Original
• Corporate Name: FOOD AND AGRICULTURE ORGANIZATION - FAO
• Subject Topical: LAND; PLANTS; SOIL RESOURCES; AGRICULTURAL ECONOMICS; AGRICULTURAL POLICY; RURAL SOCIOLOGY; CROP MANAGEMENT
• MAMS Id: U110607c

Description

STORY: FAO / FOOD OUTLOOK
TRT: 00:55
SOURCE: FAO, WFP
RESTRICTIONS: NONE
LANGAUGES: NATS

DATELINE: FILE

Shotlist

FILE - FAO - 25, 31 MAY 2010, NIGER

1. Med shot, farmer walking among oxen
2. Med shot, woman pounding grain
3. Wide shot, people waiting outside a cereal bank
4. Wide shot, people picking up sacks of g rain
5. Med shot, Man carrying sack of seeds

FILE – WFP – 18 JANUARY 2011, HEBRON, OPT

6. Tilt up, from WFP bags to baker at work
7. Various shots, baker at work
8. Various shots, woman feeding children

FILE - JANUARY 2011, PAKISTAN

9. Various shots, people at Multan Market
10. Various shots, vendors at Sukkur Market
11. Various shots, women farming at Kitchen Gardens in Bootay Wala

Storyline

Citing dwindling stocks and only small production increases for the majority of crops, a new United Nations (UN) report released today (7 June) says world food prices are likely to remain high for the rest of this year and into 2012.

The biannual “Food Outlook” published by the UN Food and Agriculture Organization (FAO) states that the next few months will be critical in determining how the major crops will fare this year.

FAO’s monthly food price index showed that global food prices, which earlier this year soared to levels seen during the 2007-08 food crisis, dropped by one per cent in May.

The agency says that declines in the prices of cereals and sugar were responsible for the slight decrease in the May index adding that this offset increases in meat and dairy prices.

Global wheat output is expected to be 3.2 per cent up from last year’s reduced crop, mostly reflecting improved yields in Russia.

World cereals stocks at the close of the crop seasons in 2012 are put at 494 million tons, up only two per cent from sharply reduced opening levels.

The agency adds that in the oilseeds market, supplies in 2011-12 may not be sufficient to meet growing oil and meal demand, implying further reductions in global inventories.

Meanwhile, the global supply and demand balance for sugar points to some improvements, supported by large anticipated production in 2010-11, which is likely to surpass consumption for the first time since 2007-08.

Turning to global meat production, the agency says that high feed prices, disease outbreaks and depleted animal inventories were forecast to limit the expansion of production to 294 million tons in 2011 - only one per cent more than 2010.

According to FAO, the international meat price index hit a new record in May and a combination of strong import demand and limited export availability pointed to a further firming of prices in the next few months.