FAO: the good grain harvest may reduce food prices

This year, the FAO, expects a higher grain crop. It is expected that more wheat will grow this year than in 2012, and in the United States corn is grown on a larger area. As a result food prices mey decrease.

According to the semi-annual forecast of the UN Food and Agriculture Organization, released on Thursday, the global cereal production in 2013/2014 will be 6.5 percent more than a year before. According to the FAO, world food prices fell minimally in May compared to the previous month. (MTI, Index)