Weather and political tensions impact food markets but cereal stocks remain adequate
8 May 2014, Rome – Weather conditions in various countries and political tensions in the Black Sea region have made food markets more volatile, FAO reports in the new Food Outlook, which is a biannual publication which provides information on the short-term market situation and outlook for major food stuffs. While production may be lower, international trade could expand to record levels in 2014, sustained by ample supplies in exporting countries and increased purchases by traditional importers like Bangladesh, Indonesia and the Philippines. The 2014 global food import bill could stabilize at $1.29 trillion but animal product bills are set to increase, sustained by rising trade volumes and prices, the report says.
Abdolreza Abbassian is a Senior Economist with FAO. In the following interview he discusses the findings or the report and elaborates on some of the major commodities.
Produced by: Sandra Ferrari