UN's food agency FAO today played down concerns that tighter supplies of food could lead to a repeat of the 2008 food crisis because stocks were ample. Last week, the UN's Food and Agriculture Organisation said global food prices reached their highest levels since its records began in 1990 and that grains prices could climb further as adverse weather patterns give cause for concern. Food inflation has risen to the top of the agenda for many policymakers with memories still fresh of the 2008 food crisis, when soaring prices sparked riots in several countries, high inflation and in several cases deep tradedeficits. In an interview with Reuters in Tokyo, Hiroyuki Konuma, the FAO's regional representative for Asia and the Pacific, acknowledged that food supply and demand was tight but said that the situation was not as severe as 2008 because grains stocks were sufficient. He said that the food stock is about 25 percent of annual production and that means the world has enough food still to feed the people.
News On AIR | January 14, 2011 7:05 PM
FAO plays down concerns of repeating 2008 food crisis